Corporate Maldives August 2025

Spotlight –

Ooredoo Maldives

At the heart of Ooredoo Maldives’ two-decade transformation is Hussain Niyaz, a former military technician who helped build the company’s network from the ground up, often quite literally.

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Hussain Niyaz

GO DIGITAL GO SERVERLESS

Run your IT operations at Ooredoo Tier III ready Industry grade Data Center Facility

Chief Executive Officer

Akhmeem Abdul Razzaq

Chief Content Officer

Mohamed Khoorsheed

Chief Digital Officer

Ibrahim Areef

Chief Operating Officer

Ahmed Nasir

Chief Creative Officer

Zaya Ahmed

Chief Design Officer

Hamdhoon W.

Chief Commercial Officer

Raaya Abdulla

Chief Editor Nashama M.

Managing Editor

Ibrahim Maiz

Content Manager Ali Rishfan

Managing Editor Ali Yoosuf

Marketing Manager

Aminath Suha Mohamed

Assistant Editor

Maanee Mohamed

Assistant Editor

Mariyam Yusra

Multimedia Journalist Raaif Rilwan

Multimedia Journalist Ahmed Shaif

Multimedia Journalist

Fathimath Lamya Abdulla

Multimedia Journalist Aminath Shafa

Office Assistant Mohammad Ratan

Published

by

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Publisher’s

Note

Welcome to the August 2025 edition of Corporate Maldives Magazine. This quarter’s Corporate Maldives Spotlight marks 20 years of Ooredoo in the Maldives. From laying the first subsea cables to rolling out 5G coverage across the nation, the company has played a key role in shaping the country’s digital landscape. We spoke with Chief Commercial Officer Hussain Niyaz about his own journey, from field technician to C-level, and what’s next for a telecom operator that now sees itself as a digital partner for national development.

Elsewhere in this issue, we take stock of a country at a crossroads. The CEO Summit 2025 was not just another event, it surfaced tough questions about debt, data, development, and whether our systems are built for the future. Our coverage captures the raw takeaways, sectoral gaps, policy mismatches, and also the ideas that might just move the country forward.

We also look outward. From financing for development to climate diplomacy, the Maldives continues to make its voice heard internationally, using its unique vulnerabilities to push for reform and resilience within the global system.

From the quiet rise of AI in finance and healthcare to ongoing challenges around youth employment, governance, and digital trust, the stories in this issue reflect a Maldives trying to adapt, not just to global shifts, but to its own internal contradictions. It’s a time of ambition, but also reckoning.

Thanks for reading.

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CORPORATE MALDIVES SPOTLIGHT: OOREDOO MALDIVES

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CEO SUMMIT

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GOVERNMENT & ECONOMY

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TOURISM & AVIATION

CLIMATE

BANKING & FINANCE

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TECHNOLOGY & INNOVATION

FOREIGN POLICY

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TRADE & SHIPPING

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HUMAN RESOURCES

CORPORATE MALDIVES SPOTLIGHT

Ooredoo Maldives

At the heart of Ooredoo Maldives’ two-decade transformation is Hussain Niyaz, a former military technician who helped build the company’s network from the ground up, often quite literally. Now serving as the company’s first local Chief Commercial Officer, Niyaz represents both the history and the future of telecoms in the country. It is a journey that spans cables laid across the ocean floor, towers raised on remote islands, and an infrastructure ready for an AI-driven era.

Since joining Ooredoo (then Wataniya) during the 2G era, Niyaz has been part of every major network milestone, from expanding fixed broadband to all inhabited islands to preparing the country’s digital backbone for 5G and beyond. But beneath the technological achievements lies something more personal, a belief in digital inclusion, shaped by memories of crisis and a desire to ensure that no island, no household, and no person gets left behind.

We sat down with Niyaz to reflect on Ooredoo’s 20-year journey, his own path from fieldwork to the boardroom, and how the company is preparing for the next leap in connectivity and innovation.

Hussain Niyaz

CCO, OOREDOO MALDIVES

It’s been 20 years since Ooredoo entered the Maldives. What is one moment from the early days that still defines what this company stands for?

You made the leap from national service to telecoms, from defence electronics to digital infrastructure. What convinced you that this was the right frontier to build next?

There are many moments I could point to, but one that really stands out is when we finally received the licence for fixed broadband. That came a full decade after we got our initial mobile licence in 2005. Getting the green light in 2015 was not easy. We had to push through countless obstacles and lobby across three different administrations. But it paid off. We laid submarine cables across the country, and for the first time, households on islands were truly connected. That shift was about more than just technology. It meant people on remote islands had access to the same opportunities as those in the capital. We didn’t stop there.

Another milestone was the move to our new headquarters. It took years of planning, negotiations, and perseverance, from land acquisition to building through the challenges of COVID-19. When we started, Central Park didn’t even exist. People used to say Wataniya wouldn’t survive, but here we are, two decades later, leading the market. What defines us is this unwavering commitment. We never gave up.

I’ve been drawn to electronics since I was a child. My father used to repair TVs and radios, and I would sit beside him, learning the ins and outs. That early exposure stayed with me. I entered the national service through the electronics division, where I worked on everything from CCTV to telephones and walkie-talkies.

When I heard Wataniya was entering the Maldives, I was immediately curious. The field of radio frequencies fascinated me. At that point, I was already handling communication devices in the military, and joining a telecom company felt like a natural extension of that path. So I took the leap and joined as an RF technician during the 2G era.

Back then, the internet wasn’t what it is today. It was still dial-up, mostly used to check the news or basic communication. There was no Facebook or WhatsApp. I loved the field. In my Grade 10 yearbook, I wrote that I wanted to work in electronics, and somehow, life found a way to take me there.

Eventually, my colleague Shabeen and I realised we had reached a ceiling in terms of technological growth in the military. We knew we needed to look beyond if we wanted to continue learning and building. That’s when we approached Wataniya. The rest, as they say, is history.

You helped build the network from the ground up, sometimes quite literally. What did that kind of fieldwork teach you that boardrooms never could?

Ooredoo has introduced every major network milestone, from 3G to 5G. What was the breakthrough moment when you realised the Maldives was ready to go fully digital?

My journey started in the field, not in a meeting room. I was a technician first. I installed towers, ran cables, mounted antennas — all the hands-on work that makes a network function. That’s where I learned the foundation of this business, and I’m grateful for it.

Years later, when the company was looking to bring someone with technical experience into a commercial role, I was approached. They needed someone who understood the technology, who could communicate in Dhivehi, and who could represent the company well. I had never seen myself in a commercial role before, but I took the opportunity seriously.

Coming from a technical background gives me a different lens in the boardroom. I’m not just discussing strategy. I understand what it takes to execute that strategy in the real world. I know how the technology works, where the challenges are, and how to overcome them. That perspective is something not everyone brings to the table, and it’s a strength I carry with me to this day.

The turning point was when we brought 4G connectivity to every inhabited island in the Maldives. From the very beginning, even when we were operating on 2G, we believed that the future of communication in the Maldives would revolve around the internet. Today, we talk about AI as the next frontier. But back then, our sights were set on getting people connected and online.

Today, every island in the Maldives has 4G, and around 80 percent already have access to 5G. We’ve built two major data centres, one in Malé and one in Kulhudhuffushi, both connected via submarine cables directly to Singapore and France. These centres are ready for the future. We’ve even partnered with NVIDIA and prepared our infrastructure for AI workloads.

When you think about it, people don’t even remember buffering anymore. That’s because we’ve designed a network to meet today’s demands and tomorrow’s possibilities. The pandemic didn’t knock us offline. That’s a sign of strength. We built with resilience and readiness in mind. Today, we are ready for tomorrow.

Digital inclusion has been a recurring theme in your leadership. Was there a moment that made this personal for you?

Yes, absolutely. I was serving in the military during the 2004 tsunami. Communication across the country broke down completely. People had no way of knowing whether their loved ones were safe. In some islands, communication was down for up to four days. I remember seeing the fear and frustration in people’s eyes.

I was working in the communication coordination unit at the time. Colonel Nazim instructed us to bring every boat’s radio onto a single common frequency. That way, we could at least restore basic communication across the islands. It was a difficult moment, but it showed me how essential communication is, especially in a country like ours, where people live scattered across the sea.

That experience stuck with me. When Ooredoo started building its network, we kept those lessons close. For an island nation, digital inclusion isn’t a luxury. It’s a necessity. And we have always tried to build a network that never leaves anyone behind, not in a crisis, and not in everyday life. We designed and built our network with resilience in mind.

AI is transforming telecoms, from predictive service to customer engagement. How do you see it shaping the next chapter for operators like Ooredoo?

AI has already become part of our everyday operations. People may not realise it, but it’s already here. From customer service bots to network management, we use AI in ways that improve efficiency and reliability.

Take something simple, like a call handover between two towers. That used to be manual. Today, AI handles it seamlessly. That’s why calls don’t drop when people are on the move. We call it a selfoptimising network (SON). It’s intelligent, it learns, and it adjusts in real time.

Internally, we’re using tools like Microsoft’s Co-Pilot to enhance our work. AI isn’t something we’re waiting for. It’s something we’re using. And as the pace of change accelerates, we have to keep evolving. It took years to move from 2G to 3G, and then to 4G. But 5G came quickly. Now, the industry is already exploring 6G. We intend to stay ahead of that curve.

You are the first local C-level executive at Ooredoo Maldives. What does that milestone mean to you today, and what kind of precedent do you hope it sets for future leaders?

It means a great deal to me. To be the first Maldivian in a C-level role at a global telecom company like Ooredoo is something I never imagined when I started out as a technician. It’s a huge responsibility. Commercial is a demanding portfolio; it covers everything from customer experience and sales to brand and distribution. There’s a lot to manage.

In sectors like tourism, we’ve seen Maldivians rise to leadership positions even in international companies. In tech, that hasn’t happened as much. But I believe it will. We are already investing in our people. We’ve sent colleagues to leading institutions like Harvard. The talent is here. What’s needed is the opportunity and the belief.

I hope my story shows that it’s possible. That someone who starts on the ground can rise to the top. And more importantly, I hope it encourages others to keep pushing forward.

Describe Ooredoo’s 20-year journey in three words. No explanations, just the words.

Communication. Revolution. Technology.

Milestones and Firsts: Ooredoo’s Early Years and the Foundation of a Digital Maldives

Before smartphones became essential. Before mobile internet made island life more connected. Before the Maldives could livestream a football match or run an entire business from a phone, there was Wataniya.

In 2005, the Maldives stood at the threshold of a digital shift. But for most people, communication was still basic, slow, and limited. Internet access was unheard of in most parts of the country. There was an absence of choice when it came to your network provider. The idea of mobile money, video streaming, or public Wi-Fi wasn’t even on the horizon.

It was into this world that Wataniya Telecom Maldives entered, not simply to compete, but to build. From the very beginning, Wataniya introduced technologies that hadn’t existed in the country before.

In 2006, just a year after launching, the company established the Maldives’ first international subsea cable, a physical link that would go on to power the country’s digital future. That same year, it launched the first mobile virtual private network (MVPN), signalling a commitment to both consumers and enterprises

These weren’t just service upgrades; they were structural changes. In 2007, SMS-based information services were introduced. By 2008, 3G had arrived, followed closely by wireless broadband in 2009. For many Maldivians, this was the first time they had access to fast mobile data, a shift that quietly changed how people lived, worked, and communicated.

Ooredoo’s early innovations came in rapid succession: prepaid broadband, mobile video broadcasting, new tower technologies. The company wasn’t waiting for global trends to trickle down to the Maldives; it was delivering them.

Then in 2013, the shift became even more pronounced. Wataniya rebranded as Ooredoo Maldives and, in partnership with Huawei, introduced the Maldives’ first LTE network, bringing a new era of broadband access across both fixed and mobile platforms. With the rebrand came a broader transformation in identity: Ooredoo wasn’t just a telecom provider anymore; it was becoming a national digital partner.

By 2014, Ooredoo launched 4G LTE Advanced, the first of its kind in the country. It began rolling out public Wi-Fi zones and tailored solutions for the resort sector, extending its impact beyond the everyday user to the country’s critical industries.

In the span of a decade, Ooredoo had moved the Maldives from limited choice to leading edge. But these first ten years were only the beginning. The next decade would see it take on new roles in digital finance, e-commerce, education, and even health, as it helped the Maldives not only connect, but transform.

The Digital Decade: How Ooredoo Redefined Innovation and Inclusion in the Maldives

By the time Ooredoo crossed its tenth year in the Maldives, mobile phones had become a fixture in everyday life. But the company wasn’t content with simply offering faster speeds or broader coverage. Its second decade would be about something deeper: inclusion, access, and reimagining what a telecom company could be.

In 2015, Ooredoo introduced green technology to its network with Huawei’s Easy Macro, designed to reduce environmental impact while enhancing user experience. That same year, it partnered with Facebook to bring Free Basics to the Maldives, offering free access to essential online services. It also kicked off the Nationwide Submarine Cable Project, laying the physical foundations for highspeed access across the islands.

But 2016 was a turning point. The company launched m-Faisaa, the Maldives’ first mobile money platform, and SuperNet, its fixed broadband service. Mobile number portability arrived, and the Ooredoo Smart Campus initiative began. These weren’t just new offerings; they were tools that brought more people into the digital economy. That year, Ooredoo converted into a public limited company, a marker of both financial growth and public trust.

From 2017 to 2020, Ooredoo expanded its reach, but also its relevance. It launched a nationwide 4G+ network and rolled out customer-centric innovations like Magey Plan, Ooredoo Next, and Ooredoo Faseyha. It broke ground on a flagship building and began trading on the Maldives Stock Exchange. Partnerships with UNDP and HDC around Smart Cities signalled its growing role in the national development conversation. At the same time, community events like the Colour Run and Mas Race became cultural staples, reminders that digital transformation could also be joyful and inclusive.

As the pandemic swept across the world in 2020, Ooredoo quickly adapted. It donated over MVR 2.5 million in aid, provided intubation boxes for hospitals, and enabled remote education by offering free internet for students and teachers. Moolee, its e-commerce platform, became a lifeline for contactless delivery, and it introduced the country’s first sign-language customer service hotline. FlexiWork plans, bill flexibility, and platforms like QuickPay helped businesses and households adapt to a new, uncertain normal.

The years that followed saw a wave of new investments in infrastructure and experience. Ooredoo launched the Maldives’ first Tier 3-ready data centre, introduced data rollover, expanded SuperNet broadband, and brought voice-over-Wi-Fi and LTE roaming to local users. Ooredoo enhanced its AI customer care assistant, launched Ooredoo Nation virtual gaming tournaments powered by 5G, and expanded its domestic submarine cable network.

Then came the company’s 19th anniversary, and with it, a new kind of celebration. Ooredoo launched the Digital Island initiative in N. Landhoo, partnered with TikTok and with its global ambassador Paris Saint-Germain hosted coaching camps, virtual tournaments, and freediving safety events. The Guinness World Record for the world’s largest underwater panel discussion became a symbolic milestone, not just a technological feat but a statement of possibility.

In 2024 and 2025, Ooredoo deepened its investment in people. It donated MVR 16 million worth of air ambulance equipment to the government and partnered with Harvard University to deliver leadership development programmes for its staff. Events like the Fun Run expanded to more islands. With 5G coverage now reaching 80 percent of the population, the infrastructure is firmly in place for what comes next.

Two decades in, Ooredoo is no longer simply a telecom operator. It is a digital partner, a platform, a community catalyst. From connectivity to commerce, from health to education, it has helped the Maldives move not only faster but forward.

The Digital Maldives Revolution: N. Landhoo Leads the Way

There was a time when digital inclusion in the Maldives was measured in megabytes and mobile coverage. But as the nation’s technological footprint expanded, a new question emerged: were communities ready to truly live digitally?

That question found its answer in a small island in Noonu Atoll, N. Landhoo, where residents, council, and service providers have come together to create something unprecedented: the Maldives’ first Digital Island.

Launched under Ooredoo Maldives’ wider commitment to building a Digital Maldives powered by AI, the transformation of Landhoo goes far beyond infrastructure. It marks a shift in thinking. This is about readiness not only to use digital tools, but to understand them, trust them, and build a way of life around them.

The Ooredoo Digital Island initiative was developed in close partnership with the Landhoo Council. This relationship proved key to its success. Together, they focused not only on bringing technology to the island but also on helping the community embrace it. That meant more than providing connectivity. It meant creating real-world use cases, building trust, and integrating digital services into daily life.

At the centre of this shift is m-Faisaa, Ooredoo’s digital wallet. Today, 40 percent of the island council’s income is collected through m-Faisaa. Soon, 100 percent of the waste collection fees on the island will also be paid digitally. Across Landhoo, 65 percent of retail transactions, including those in shops, cafés, and guesthouses, are now processed through m-Faisaa.

These are not isolated statistics. They reflect a community-wide pivot to digital living. They show that digital readiness is no longer just a policy goal or a corporate vision. It is happening in the lived experience of islanders.

What sets Landhoo apart is not just the availability of tools like the Ooredoo Super App, Moolee e-commerce, or Fiber broadband SuperNet, but the way these services have been understood and adopted. Residents now experience everyday convenience through cashless payments, digital shopping, and simplified council services. These changes make the case for a more efficient, transparent, and inclusive future.

President of the Landhoo Council, Abdul Azeez Mohamed, emphasised the council’s commitment to leveraging technology to enhance public services and improve the quality of life for residents. His remarks reflect the local leadership’s proactive approach to integrating innovation into governance and service delivery.

Ooredoo Maldives CEO, Khalid Al Hamadi, highlighted the island’s digital maturity, noting that a significant majority of Ooredoo’s transactions in Landhoo are now conducted digitally. He pointed to this as evidence of the community’s strong openness to adopting digital solutions in everyday life.

This shift also aligns with broader goals. The Digital Island initiative supports the UN Sustainable Development Goals by advancing women’s economic empowerment, encouraging small business growth, and driving inclusive economic participation through digital financial inclusion.

Landhoo is the first, but it will not be the last. The lessons from this pilot are already shaping how Ooredoo approaches the potential of other communities across the country. The success in Landhoo proves that when technology is introduced with care, community engagement, and real purpose, adoption becomes organic.

This is not a story about a company launching a new service. It is about a community reshaping its rhythm of life, its habits, and its relationship with the future. It is about what happens when digital transformation is not something that happens to people, but with them.

In the heart of Noonu Atoll, the digital Maldives is no longer a vision. It is already underway.

Ooredoo’s Social Footprint: A Story of

Care Beyond Coverage

In the early days of mobile networks in the Maldives, corporate responsibility often meant sponsoring an event or donating equipment when called upon. But as the country digitised and dependence on technology deepened, so too did the expectations on those powering the change. What happens when your business is no longer just a service, but an essential part of how people learn, work, bank, and stay healthy?

Ooredoo Maldives has answered that question not through a singular grand gesture, but through a gradual evolution in how it sees its role in public life. Its corporate social responsibility initiatives over the years form a picture not of a company stepping in during moments of crisis, but of one staying present, listening, and adapting to the needs of the people it connects.

Take the case of internet safety. In 2020, as the country turned to online tools for everything from education to commerce, digital threats also grew. Ooredoo responded by launching an internet safety programme in collaboration with the Maldives Police Service and key ministries. It wasn’t a flashy campaign. It was a steady rollout of webinars, videos, and community sessions focused on cyber hygiene, digital literacy, and practical safety tools, designed for everyone from students to the elderly. At a time when access to the internet was no longer a luxury, making it safer became part of the company’s mandate.

That same year, as the COVID-19 pandemic upended daily life, Ooredoo’s sense of responsibility expanded again. While ensuring continuity for its staff and customers, the company also moved quickly to support national response efforts. It partnered with the Ministry of Education to support online schooling, provided connectivity to frontline workers, and ensured patients in quarantine could stay in touch with loved ones. There were donations, including MVR 2.5 million to the government and medical supplies and SIM cards, but behind each was a focus on maintaining connection, both digital and human.

During the same period, Ooredoo helped move the Miyaheli social innovation camp online. The platform, a long-time partnership with UNDP, invites young Maldivians to design creative solutions to community problems. Held virtually during lockdown, it gave rise to ideas like a silent distress alert system, an online doctor consultation platform, and a local educational YouTube channel for children stuck at home. These projects were not hypothetical. With seed funding and mentorship, they moved from concept to prototype, proving that youth-led ideas can carry real weight in public response.

Ooredoo’s focus on healthcare has grown steadily alongside its digital programmes. From 2022 onwards, the company continues to donate health kits to all health centres in the country, ensuring that basic diagnostic tools are available even in remote islands. The initiative aligned with the company’s support for the UN Sustainable Development Goals and its ongoing investment in wellness through events like the Ooredoo Fun Run.

Ooredoo’s commitment to healthcare has spanned years and evolved with national needs. In 2018, the company donated three fully equipped sea ambulances to the Ministry of Health, enhancing emergency medical access across the atolls. That commitment deepened in 2024 with the donation of MVR 16 million worth of specialised equipment to support the newly launched national Air Ambulance service, which has already transported hundreds of patients in critical condition. Together, these contributions reflect a long-term investment in strengthening the country’s emergency response systems and offer a clear example of how corporate responsibility can deliver meaningful, life-saving impact.

What ties all of this together is not a CSR slogan, but a shift in identity. Ooredoo has moved from being a service provider to becoming an actor in community wellbeing. Its work has touched education, health, innovation, and crisis response, areas far outside a traditional telecom brief. Yet each of these efforts stems from the same logic: if your business connects people, then you are also responsible for the spaces they connect within.

As the Maldives builds a more digital future, the private sector will increasingly shape public outcomes. In this new landscape, what matters is not just investment, but presence. Ooredoo’s story shows that social impact does not come from one-time projects, but from staying in the room long after the headlines fade.

The Road Ahead: AI, Fintech and Sustainable Connectivity

On a quiet island morning, as fishermen set out and schools begin to stir, someone uses m-Faisaa to settle a utility bill before heading to work. A few hours later, a student logs in to a remote class, her internet connection quietly strengthened by machine-learning tools that detect and fix performance drops before she even notices them. By evening, a shopkeeper in a small café speaks to a digital assistant in Dhivehi, asking about data top-ups while customers tap their phones to pay for coffee. None of this makes a headline. But this is the future Ooredoo is quietly building.

For years, connectivity in the Maldives was about towers, reach, and speed. But now, it is becoming about fluidity, about how seamlessly life flows when digital services feel intuitive, reliable, and truly local. The next phase of Ooredoo’s journey is not defined by a single piece of technology, but by the invisible way many tools will begin to work together.

The company is turning to artificial intelligence not to impress, but to improve. Predictive systems are being deployed to monitor and optimise the network in real time, making slow connections and latency feel like a thing of the past. This matters in a country where distance defines everything and where every second saved online can mean hours of real-world convenience.

Ooredoo’s vision of service goes beyond the signal. It now includes a digital assistant that understands both English and Dhivehi, available day or night, trained not just to answer questions but to anticipate needs. These chatbots are not replacements for people, but extensions of care, designed to resolve common queries and free up human agents for what matters most.

At home, the company’s Smart(er) Home initiative is quietly changing how spaces work. Lights that respond to movement, devices that conserve energy, and security systems that integrate directly into mobile apps are all part of the portfolio. Ooredoo is expanding these offerings not as a tech experiment, but as a reflection of how the Maldivian home itself is evolving.

Much of this transformation is anchored in the Ooredoo SuperApp. Over time, more services will be integrated into the app, from broadband upgrades to device delivery, allowing the company to reduce its physical footprint while improving nationwide reach. This is not a retreat from service, but a redistribution of it, where your phone becomes the front desk, the cashier, and the service window.

Then there is money. Or rather, the growing absence of it in cash form. Through m-Faisaa, Ooredoo is aiming to build a payment culture that works from the street corner vendor to the city council. But adoption takes more than tech. It takes trust. The company recognises this and plans to lead with outreach, particularly among the elderly, to ensure the digital economy feels familiar, not foreign.

Behind all this lies a larger ambition to bring the Maldives not just up to speed with global trends, but to do so in a way that fits Maldivian life. Whether it’s supporting online education, backing health infrastructure, or pushing for greener, leaner networks, Ooredoo’s future strategy is as much about responsibility as it is about progress.

This is not the kind of transformation you’ll see in dramatic product launches or glossy advertisements. It’s the kind that settles in slowly, in quiet tap-to-pay moments, in smart connections that don’t break, in the comfort of knowing that service is always a few swipes away. The road ahead is not loud. But it is ambitious. And if Ooredoo has anything to say about it, it will be built thoughtfully, island by island, person by person, and with the future folded gently into the present. A truly Digital Maldives.

Tourist ArrivalsMonthly Tourist Arrivals -

Share of Bed Capacity by Type

Tourist arrivals to the Maldives have continued their upward momentum into 2025, with the Ministry of Tourism reporting 979,958 visitors by 4 June, reflecting strong performance across key markets. This marks a significant increase compared to the same period in 2024, reaffirming the Maldives’ position as a leading global travel destination.

In May 2025, the Maldives welcomed 135,614 tourists, a 13.1% rise compared to 119,873 arrivals in May 2024. This steady growth aligns with the government’s ambition to exceed the historic milestone of two million visitors recorded last year.

China continues to lead as the top source market in 2025, contributing 117,874 arrivals, or 12% of the total. Russia and the United Kingdom follow with 107,518 and 99,671 arrivals, respectively. Notably, Italy overtook Germany to claim fourth place with 82,240 visitors, while Germany recorded 74,590 arrivals.

Accommodation preferences show that resorts remain dominant, attracting nearly 69% of all tourists. Guesthouses continue to gain popularity, drawing approximately 225,539 visitors—around 23% of total arrivals. Hotels accounted for 2.9%, with safari vessels filling the remaining share.

As of early June, 1,200 tourism establishments are in operation across the country, offering a bed capacity of 64,106. Resorts comprise the largest share of this capacity, followed by guesthouses and other accommodation types.

With daily arrivals averaging 4,375 in May and peak traffic hitting 7,349 tourists on 1 May, the Maldives’ tourism sector shows no signs of slowing. The steady influx of travellers, particularly from Asia and Europe, underscores strong international demand. As flight connectivity improves and new promotional campaigns roll out across key markets, industry stakeholders remain optimistic that 2025 will not only meet but potentially surpass last year’s record-breaking figures.

Maldives

Financial Position - April 2025

Total Assets

Foreign Currency Finacial Assets

Local Currency Finacial Assets

Total Liabilities

Foreign Currency Financial Liabilities

Local Currency Financial Liabilities

Overall, the Maldives Monetary Authority saw continued asset growth in April 2025, underpinned by strengthened foreign reserves and improved equity. While liabilities also increased— especially in the local currency segment—the figures reflect overall financial stability and resilience.

Inflation - 2024

Inflation in the Maldives has shown a gradual upward trend over recent months. In October 2024, the inflation rate stood at 1.1%, rising to 4.1% in November and 4.8% in December. The trend continued into 2025, with January recording 5.3%, followed by 5.1% in February, 5.3% in March, and 5.6% in April. This steady increase highlights growing price pressures in the economy across multiple sectors. Inflation is the percentage change in the

Import & Export 2024/25

Value in Millions - USD

Imports and exports in the Maldives showed notable volatility from late 2024 into early 2025. Imports totalled MVR 330.49 million in October before dipping significantly to MVR 260.10 million in November. This was followed by a sharp rise to MVR 375.79 million in December, marking the highest monthly import value during the period. January saw a decline to MVR 334.46 million, with figures continuing to fall through February and March—MVR 284.71 million and MVR 285.29 million respectively—before modestly recovering to MVR 304.54 million in April.

Exports followed a more stable upward trend, beginning at MVR 24.98 million in October and increasing to MVR 34.34 million in November. December saw further growth to MVR 39.38 million, peaking at MVR 55.75 million in January. Although there was a slight decline in the following months, exports remained steady— MVR 43.94 million in February, MVR 42.58 million in March, and MVR 42.57 million in April. The sustained export performance reflects improved external demand, while fluctuations in imports suggest shifting domestic consumption and potential delays in procurement cycles.

MIRA - Revenue Collection

January 2025 to June 2025

Government revenue in the Maldives continued to grow in the first half of 2025, supported by consistent inflows from the tourism sector, although fluctuations became more apparent from April onward.

According to the Maldives Inland Revenue Authority (MIRA), total revenue collection stood at MVR 3.34 billion in January, dipped to MVR 2.54 billion in February, and climbed to MVR 3.43 billion in March. In the second quarter, collections dropped to MVR 2.63 billion in April, fell further to MVR 2.17 billion in May, and rebounded slightly to MVR 2.63 billion in June.

Goods and Services Tax (GST) from the tourism sector remained the largest contributor, exceeding MVR 1 billion in each of the first three months. Tourism GST reached MVR 1.06 billion in January, MVR 920 million in February, and MVR 1.45 billion in March. However, receipts dropped to MVR 1.16 billion in April, fell further to MVR 963 million in May, and continued down to MVR 593 million in June, reflecting seasonal tourism slowdowns.

Corporate Income Tax also demonstrated considerable volatility. After peaking at MVR 842 million in January, collections declined to MVR 272 million in February, MVR 45.7 million in March, and just MVR 25.8 million in April. The figure bottomed out at MVR 22.6 million in May, before a significant rebound to MVR 333 million in June, aligning with mid-year filing patterns.

Bank Profit Tax followed a similarly irregular path, contributing MVR 153 million in January, plunging to MVR 6.8 million in February, disappearing from the March to May records, and returning at MVR 134 million in June.

Non-resident withholding tax remained an important revenue stream, recording MVR 139 million in January, MVR 80 million in February, MVR 111 million in March, MVR 113 million in April, then falling to MVR 82 million in May, and rising again to MVR 111 million in June.

Revenue from expatriate quota fees declined from MVR 36.2 million in January to MVR 30.5 million in February and MVR 21.8 million in March, before stabilising at MVR 28 million in April and MVR 27.1 million in May, then easing again to MVR 23.7 million in June.

Green Tax collections increased from MVR 108 million in January to MVR 270 million in March, then tapered off to MVR 227 million in April, MVR 205 million in May, and MVR 163 million in June.

Lease period extension fees saw a spike in February (MVR 307 million) but disappeared from the records for the following months. Despite strong numbers in the first quarter, the second quarter figures point to the Maldives’ continued fiscal dependence on tourism and a limited revenue base. The monthly swings in tax receipts highlight the vulnerability of government income to seasonal and sector-specific trends, underlining the need for broader revenue diversification.

Consumer Price Index (CPI) - September 2024

Major Price Decreases:

The overall Consumer Price Index (CPI) for the Maldives fell by 0.50% in April 2025 compared to March, continuing the decrease noted in March (0.69%) despite the mild increases recorded in January (0.33%) and February (0.27%). Despite this month-on-month decline, year-on-year inflation stood at 5.62%, underscoring ongoing upward pressure on prices, particularly in essential categories.

Fruit recorded the steepest decline, with prices falling by 9.43%, followed closely by Vegetables at 7.46%.

Domestic and household services saw a 3.69% decrease, while Electricity dropped by 3.56%.

Fuels and lubricants for personal transport equipment declined 2.13%, and Motorcycles dropped by 1.40%.

Smaller reductions were seen in Garments (0.61%), Shoes and other footwear (0.54%), Restaurants and cafes (0.16%), and Mobile communication services (0.19%).

Price Increases:

The most significant hike was noted in Maintenance and repair of personal transport equipment, rising sharply by 11.07%.

Major household appliances increased by 3.33%, while Furniture and furnishings rose 1.81%.

Fish prices went up 1.75%, and Passenger transport by air and Education (not defined by level) climbed by 1.50% and 1.14%, respectively.

Other modest increases were observed in Arecanut (1.34%), Sugar, jam, honey, chocolate and confectionery (0.57%), Other personal care products (0.57%), Passenger transport by sea (0.51%), and Cereals and cereal products (0.20%).

These changes reflect seasonal fluctuations in food supply, utility cost adjustments, and service-related price dynamics, influencing overall consumer spending patterns in the Maldives.

Regional Differences:

In Malé, the CPI fell by 0.53%, with housing and utilities contributing most to the decline due to an 11% fall in electricity prices.

In the Atolls, CPI declined further by 0.44%, where the Food and Non-Alcoholic Beverages group at 2.18%.

Despite the monthly decline in CPI, the data reflects sustained cost adjustments, with housing and utilities driving the drop in Malé, while lower food prices contributed to the decrease in the Atolls—highlighting ongoing shifts in essential living expenses.

Maldives National Debt (2015–2025)

Annual Government Debt Figures (2015–2025)

SOURCES: Data is compiled from official Maldivian government sources – primarily the MINISTRY OF FINANCE (Debt Management Department reports and Fiscal Strategy documents) and the MALDIVES MONETARY AUTHORITY (MMA) statistical database

On a humid June afternoon at JEN Maldives Malé by Shangri-La, something unprecedented unfolded within the elegant walls of the hotel ballroom. It wasn’t just another corporate event, nor a typical gathering of business elites. The inaugural CEO Summit 2025 brought together leaders spanning business, government, development finance, and civil society. The purpose was not merely to network, but to engage in structured, forward-facing dialogue about the country’s most urgent and structural economic questions.

Held as the centrepiece of Corporate Maldives Bizweek, the summit revolved around a single theme: building a resilient economy. Rather than limiting the word ‘resilience’ to post-crisis recovery, the summit challenged its participants to think bigger. It asked them to define resilience as the country’s capacity to withstand, adapt to, and thrive amid external shocks, internal limitations, and accelerating global transitions.

In contrast to the often one-directional format of panels and keynote speeches, the CEO Summit was designed to create multidirectional, participatory discourse. The event featured a candid, multi-sector panel discussion in the morning, followed by ten simultaneous roundtable sessions in the afternoon. Each table focused on one crucial pillar of economic transformation.

It was a day defined by frank reflection, dynamic exchanges, and practical ideas grounded in lived experience. The diversity of the room, ministers, fintech pioneers, lawyers, CEOs, SME founders, diplomats, and civil society figures, reflected the magnitude of the task at hand.

This feature chronicles what happened at the CEO Summit 2025. It captures the essence of what was said, by whom, on what themes, and why it matters as the Maldives stands at a crucial inflection point in its economic history.

Panel Discussion: Confronting the Architecture of the Economy

Moderated by Iyaz Waheed, the President of Universal Foundation, the morning panel opened with a question that hung heavy in the air: What does economic resilience mean for the Maldives, practically, systemically, and politically?

The panel brought together a high-level group of decision-makers and industry leaders. It featured the Dr Abdulla Muththalib. Minister of Construction, Housing and Infrastructure, the Chief Business Officer of Bank of Maldives Moosa Nimal, the Chief Executive Officer of Dhiraagu Ismail Rasheed and Chief Executive Officer of Ooredoo Maldives Khalid Al-Hamadi, and the Chief Commercial Officer of First National Mariyam Visam. What followed was not a ceremonial discussion. It was a direct and, at times, uncomfortable exploration of where the cracks in the economic system lie and how they might be repaired.

The Telecommunications Bedrock

The Minister of Construction opened with a frank assessment of the country’s vulnerability to imported energy. He stressed the urgency of transitioning to renewables, not simply to meet sustainability targets but to safeguard economic stability. “We have no choice,” he said, referencing the 100 MW floating solar project planned for the Malé region and the development of Ras Malé as a city powered entirely by clean energy. Ras Malé, he added, is being developed as a fully self-sustaining island, a prototype the government hopes to replicate. But his most pointed remarks were about value retention. “Billions are generated from our tourism sector,” he noted, “but very little of that capital stays within the country.” He made a passionate call to rethink foreign investment frameworks to ensure that capital generated on Maldivian soil continues to circulate within its borders.

Ismail Rasheed, CEO of Dhiraagu, highlighted how digital infrastructure has become the invisible scaffolding of the modern Maldivian economy. He noted that Dhiraagu has connected every inhabited island with broadband and mobile services, and that telecommunications was the first utility to achieve 100 percent coverage. But Ismail was clear-eyed about the work that remains. “We need stronger data governance, better interoperability, and secure frameworks for digital identity,” he said. “Connectivity alone isn’t enough.”

Tech Companies as Future Builders

Digital Banking and AI’s Next Frontier Capital Markets and the Missing Middle

Representing Bank of Maldives, Moosa Nimal described how over 95 percent of the bank’s customer base now transacts digitally. He spoke about the future of banking as one of integration with artificial intelligence, anonymised data, and personalised financial services shaping customer experiences. But he warned that widespread digital adoption is not the same as digital literacy. “We have the tools,” he said. “What we lack is awareness, particularly among SMEs.”

He also raised the issue of data silos, explaining how anonymised aggregate data could be used to provide businesses with insights into customer demographics, behaviour, and economic trends if the data-sharing policies existed.

Khalid Al-Hamadi, CEO of Ooredoo Maldives, reminded the room that the future isn’t something to brace for. It is something to build. He outlined how Ooredoo, as part of its global group, is already working with AI leaders like NVIDIA, and how infrastructure developed here can be plugged into wider ecosystems. “We are not just a telecom company anymore,” he said. “And we must not treat ourselves as such.”

Visam Ali, CCO of First National, spotlighted the gaps in Maldivian capital mobilisation. While international investors show appetite for sectors like tourism and logistics, outdated legal frameworks and public unfamiliarity with capital markets limit what is possible. “We are actively working to list Maldivian firms on regional exchanges,” she said, “but we need an enabling ecosystem that includes legislative reform and education.”

Together, these voices painted a portrait of an economy with enormous potential but one held back by fragmented systems, outdated regulatory tools, and a lack of cohesive long-term planning. As the moderator noted in closing, “Resilience begins when we stop managing crises and start designing systems that prevent them.”

At the CEO Summit 2025, held on 18 June at JEN Maldives Malé by Shangri-La, the roundtable discussions served as the most grounded and diverse segment of the day. While the panel featured high-level insights from national leaders and corporate executives, it was in the roundtables that deeply practical, sometimes uncomfortable realities came into view. Each table focused on a theme vital to economic resilience. The representatives who shared back to the full summit did not speak as policymakers or theorists, but as professionals reflecting the real-world complexities of their fields.

What follows is a full account of those summaries, exactly as shared by each table’s chosen speaker.

Table 1: Governance and Policy Reform for Resilience

The speaker from this table began by highlighting how outdated regulations continue to impede innovation and investment. There was concern that some of the recently introduced regulations, especially those related to digital assets and fintech, were drafted and enforced without adequate consultation with stakeholders. The group believed that regulations should be enabling, not restrictive, and that any new frameworks should be tested before implementation. The takeaway was clear: laws must evolve with the market, and public input must be central to how they are designed.

Table 2: Education and Workforce Development

This summary opened with a reflection on the disconnect between the education system and employment realities. The table noted that the current school curriculum lacks vocational and experiential training. One illustrative example shared in the summary was of a medical doctor working in a call centre, highlighting how even highly educated individuals are not ending up in relevant roles.

The table discussed the absence of STEM education from early schooling and proposed that this be included moving forward. A reference was made to how STEM is embedded from early stages in countries like China. The representative noted that the Chinese Ambassador at the table expressed interest in supporting such initiatives. The summary also stressed the importance of retraining even C-level executives in emerging areas like AI and digital systems, given how much the workforce has changed. The group’s final takeaway was that Maldivians are fast learners, and with the right access, they can adapt across age groups.

Table 3: Creative Industries and Cultural Economy

This group approached the topic from varied professional backgrounds. According to their table summary, the biggest challenge facing the creative economy is the lack of corporate skillsets required to turn individual talent into viable business. While creativity was seen as abundant, the group pointed to a major gap in monetisation infrastructure and business support.

They also discussed the need for a national platform that could connect creators and consumers, including tourists, and allow creative work to be discovered, appreciated, and sold. A key issue was the lack of visibility of Maldivian culture within the tourism experience. The speaker remarked that even locals are often unaware of the depth of the country’s own cultural assets. In addition to platforms and promotion, the table called for stronger intellectual property laws and improved access to funding.

Table 4: Energy

The summary from this table focused heavily on the Maldives’ persistent planning-execution gap. According to the speaker, the group felt that renewable energy policies are delayed by repeated cycles of replanning and shifting political priorities.

Two major challenges were highlighted: space constraints, particularly in the tourism sector, and the large capital investments required for renewable projects. The table pointed out that while financing is available from institutions like the World Bank and the Green Climate Fund, there’s a lack of readiness to apply and execute on time. They discussed the importance of public-private partnerships and mechanisms that allow private entities to benefit from investing in national renewable infrastructure. Ocean-based energy, particularly thermal technologies, was also noted as an underutilised opportunity.

Table 5: Urban Development and Infrastructure

The summary from this table described the topic as one of the most complex of the day. The group agreed that the biggest challenge is the absence of a long-term national development plan. Projects like airports and harbours tend to change direction with every political cycle, disrupting continuity and investor confidence.

An unexpected insight shared was how permanent address registration has become a structural barrier. Many Maldivians are legally tied to islands they have never lived in, making relocation and service access unnecessarily complicated. Housing was cited as the most urgent national development issue.

The table called for a legally supported 20-year urban development strategy. They also recommended that service centres be distributed across the atolls, noting that companies like Dhiraagu are already operating from islands and other SOEs could follow suit. The speaker said the table strongly supported enabling all citizens to legally settle in the island of their choice, rather than remaining tied to their birth island.

Table 6: Food Security, Fisheries and Agriculture

This table began their summary by redefining the meaning of food security. They asked: what does it mean to be food secure in the Maldives today? While a generation ago that might have meant rice, sugar, and tuna, consumer preferences have shifted. The group noted that imported produce like mozzarella and exotic vegetables are now part of everyday demand, and food security must respond to this new context.

Physical constraints were acknowledged — limited land, fragmented geography, poor soil — but the summary also stressed that much of the sector’s weakness comes from a lack of integrated planning. During COVID-19, the country realised how exposed it was, yet land allocation for agriculture remains insufficient.

The group discussed how agriculture must be integrated into other sectors like tourism and transport. They also pointed out that Maldives produces high-quality local food, such as watermelons and papayas, that remain undervalued due to lack of branding. While vertical farming and hydroponics exist, they are underused and often presented as novelty rather than strategy. The table suggested establishing these systems in major urban centres and supporting them through education and investment.

Table 7: Healthcare

This table’s summary focused on systemic service gaps. The lack of economies of scale in smaller islands was a key problem, particularly in delivering specialised healthcare. According to the speaker, the shortage of qualified doctors, nurses, and health professionals persists in both the capital and the atolls.

Pharmaceutical regulations were described as overly complex, and the Aasandha health scheme was noted as a source of concern, particularly regarding its accessibility and efficiency. The table proposed expanding public-private partnerships to build specialty hospitals, diagnostics services, and telemedicine platforms. Shared infrastructure models between the state and private investors were suggested as a way to address costs while retaining public oversight.

Workforce development, retention, and decentralisation were emphasised as priorities for the years ahead.

With bankers making up most of the group, the summary focused on why financial institutions hesitate to lend. One of the biggest issues is inconsistency in financial reporting. Businesses often submit one version of financials to the bank and another to the tax authority. This makes it difficult for banks to assess risk or verify data.

Another challenge discussed was that many borrowers seek funds for sectors in which they lack prior experience. Without industry knowledge, banks are reluctant to approve financing. The table also touched on real estate, noting that it can take five to seven years to transfer a title deed for an apartment, making it an impractical form of collateral.

The speaker shared a recommendation to create a joint investment guarantee scheme and proposed that banks should consider accepting financial instruments or equity as collateral in place of immovable assets.

This summary challenged the long-standing idea that the Maldives is only about sun and sand. According to the speaker, their group offered real-world examples of diversification already happening — from international sporting events hosted by local councils to wellness and yoga retreats.

The biggest problem facing local tourism, they said, is cost. Unlike resorts, which can centralise services, guesthouses must duplicate them, driving up expenses. Electricity and operational costs in local islands were reported to be significantly higher than in resorts, making local tourism less competitive despite offering the same product.

The table called for regulatory harmonisation, particularly for small-scale guesthouse operations, and suggested tax relief for remote resorts lacking reliable transport. They also recommended a full audit of the country’s tourism brand strategy, arguing that the Maldives can no longer afford to sell itself with a single image.

Table 8: Finance and Investment Access

Table 9: Tourism Diversification

The final table described trust as the cornerstone issue in the country’s tech landscape. According to the summary, the Maldives lacks a digital trust framework. There are no proper data governance laws, weak digital identity systems, and limited interoperability between government and private sector platforms. One example shared was that personal data like ID cards and addresses are easily accessible online, highlighting the absence of strong cybersecurity. The table believed that the health sector is the most promising application for digital technology, especially in telehealth and remote diagnostics.

However, without foundational reforms, none of these opportunities can be realised. The group urged fast-tracking of cyber regulations, but stressed the importance of tailoring them to the local context to avoid overburdening small businesses. Finally, they recommended national awareness campaigns to raise digital literacy at the community level.

The roundtable summaries at the CEO Summit 2025 revealed a country rich in insight and local expertise. These were not abstract policy discussions. They were lived realities — of barriers encountered, opportunities missed, and practical solutions that, if supported, could shape a more adaptive and resilient Maldives. Each table gave voice to sectoral challenges often buried in silence. Taken together, they offer a blueprint grounded not in theory but in experience. As follow-ups and reporting continue, the lessons drawn from these conversations will be essential to shaping policy, investment, and public discourse in the years ahead.

Table 10: Technology and AI

Real Voices, Shared Ground

The Price of Residency: What the Maldives Must Fix Before Welcoming Wealth

The Maldives has officially entered the global investment migration market. In partnership with Henley & Partners, the country is launching its first-ever residence by investment programme, offering foreign high-net-worth individuals the right to long-term residence in exchange for real estate investment. The move is being framed as a strategic effort to diversify the economy and tap into global capital beyond tourism revenues.

But while the appeal of attracting deep-pocketed investors is clear, especially for a small island nation facing mounting economic pressures and climate vulnerabilities, the path ahead is far from simple. If not carefully designed and managed, this new initiative could bring unintended consequences, as seen in other countries that embraced similar schemes.

According to the press release from the Ministry of Economic Development and Trade, the programme will focus on real estate acquisition, offering “state-of-the-art properties with the utmost privacy and exclusivity.” It promises investors a stable, secure, and tropical lifestyle, a familiar pitch for countries marketing themselves as safe havens in an increasingly unstable world.

The Maldives’ offering will sit alongside programmes from countries like Portugal, Greece, and the UAE, which have also tried to monetise residency rights through investment. These schemes typically require property purchases, with thresholds ranging from €250,000 to over €1 million, often paired with minimum stay requirements.

Portugal’s golden visa programme, launched in 2012, was initially lauded for bringing in billions in foreign direct investment. But over time, the negative side-effects became harder to ignore: property prices surged, locals were priced out of urban centres, and speculative development thrived while much-needed affordable housing dwindled. By 2023, the Portuguese government began phasing out parts of the programme.

Cyprus, too, shut down its passport-for-sale scheme after a corruption scandal and mounting pressure from the EU. Even in Dubai, where investor visas are part of a broader development model, the strategy only works because of extensive infrastructure, business ease, and a well-oiled residency and legal framework

The lesson is clear: offering residency is not just about the visa. It’s about what lies beneath, governance, infrastructure, legal predictability, quality of life, and the credibility of institutions.

For this programme to be more than a short-term cash grab, the Maldives must urgently address key gaps:

• Infrastructure and Accessibility: A luxury villa in the Maldives is only as attractive as the ability to get there easily and affordably, with reliable electricity, water, internet, and healthcare. Investors expecting a second home will demand more than just sand and sea.

• Legal and Tax Certainty: Clear rules on property ownership, dispute resolution, inheritance rights, and taxation are critical. High-net-worth individuals tend to avoid jurisdictions where rules shift frequently or where legal enforcement is unclear.

• Healthcare and Education: Long-term residence means people might bring families. International-standard healthcare and access to quality education, even if private, become essential offerings. Environmental Planning: Real estate-driven growth often collides with environmental conservation, particularly in ecologically sensitive island chains like the Maldives. Poor planning could backfire both reputationally and ecologically.

• Public Buy-In: The government must also consider how this scheme is perceived by locals. Will it widen inequality? Will it create enclaves of foreign wealth amid local hardship? Transparency and public communication will matter.

Done right, this investor visa programme could be a tool for attracting quality investment, creating jobs, and upgrading national infrastructure. Done poorly, it could inflate property prices, strain local resources, and create a two-tier society that benefits the few at the expense of the many.

The Maldives is offering a version of paradise, not just to tourists now, but to permanent residents. Whether it becomes a meaningful path to prosperity or a short-sighted sale of sovereignty depends entirely on the details still to come.

This is not just about attracting capital. It is about building a country where people, local or foreign, actually want to live, invest, and contribute for the long haul.

A

In any democracy, the size and structure of government reflect deeper national priorities. Budgets, roles, and appointments are more than administrative details. They are statements of intent. In the Maldives, a recent public disclosure has brought that reality into sharper focus.

According to the President’s Office, 922 individuals currently serve in political roles appointed under Article 115(f) of the Constitution. This includes 20 ministers, 14 individuals with ministerial rank, 93 state ministers, and 216 deputy ministers. The remainder, nearly 600 positions, comprise political directors, assistant directors, and other senior political staff. While these figures are subject to change, the data provides the first official accounting of political appointments well into President Dr Mohamed Muizzu’s term.

The headline number alone is significant. But more telling is how it scales within the national context. With a population of around 515,000, the Maldives now has one political appointee for every 558 citizens. This ratio is remarkably close to the country’s doctor-to-population ratio, which stands at roughly one doctor per 500 people. In essence, a Maldivian is now almost as likely to encounter a political appointee as a licensed medical professional. This comparison is more than symbolic. It forces a re-examination of how government resources are allocated in a small island democracy where public service delivery, fiscal discipline, and administrative efficiency are ongoing concerns.

When viewed globally, the scale of political staffing in the Maldives stands out. The United States, with over 330 million people, operates with around 4,000 political appointees, approximately one for every 83,000 people. In the United Kingdom, fewer than 150 ministerial and junior ministerial posts are shared among 67 million citizens, resulting in a ratio of about one per 450,000.

To be sure, small states face unique governance challenges. A limited pool of civil servants and the need to staff remote atolls can justify a higher number of appointees relative to population. But the Maldivian tally, especially with more than 300 directors and assistant directors, suggests a much broader and deeper reliance on political appointments than is typically observed elsewhere.

That depth also prompts questions about institutional priorities. Are these positions aligned with strategic goals, or are they fulfilling political obligations? How are their functions evaluated, and what benchmarks exist to ensure performance and accountability?

The timing of the disclosure further complicates the picture. This is the first time such data has been publicly shared during the current administration. In any robust democratic system, information on political staffing is a basic feature of transparency and governance. It should not be an afterthought, nor should it take more than a year and a half into an administration’s tenure to provide a baseline figure. The absence of regular updates undermines public confidence and limits the ability to engage meaningfully with how government is structured and resourced.

Transparency in appointments should not be seen as a concession but as a duty. Clearer reporting, ideally on a quarterly basis, alongside a published ceiling on political roles and better delineation between political and civil service positions would help align governance practice with democratic expectation.

In the end, the doctor comparison endures not because of its novelty, but because of what it reveals. A nation that invests as heavily in political roles as it does in essential services must reckon with the long-term sustainability of that model. Governance is, after all, not only about how many people serve in office, but how wisely those people are appointed, supported, and held to account.

World Bank Calls for Radical Transparency

A new World Bank report warns that opaque debt practices are endangering the financial stability of many developing countries and calls for “radical transparency” to prevent future crises. The report, titled Radical [Debt] Transparency, highlights that while public debt reporting has improved since 2021, significant gaps remain, especially in off-budget financing, collateralised loans, and domestic debt disclosures.

The Maldives is among the countries identified as facing high debt distress. In a footnote, the report cites an instance where India granted a one-year extension on two treasury notes worth USD 50 million purchased in 2023 by the Reserve Bank of India. However, critical terms such as the interest rates were not disclosed, raising concerns about transparency in bilateral arrangements.

Globally, the report reveals that nearly 60 percent of low-income countries are at high risk of debt distress. While 75 percent of countries now publish annual debt data, only one in four discloses loan-level information. The problem is especially acute in the case of contingent liabilities, state-owned enterprise debt, and unconventional instruments like central bank swaps and private placements.

For the Maldives, this is not just a matter of improving internal governance. As the country increasingly relies on external borrowing to finance development, the lack of comprehensive reporting could weaken investor confidence and obscure the true fiscal position. The report’s mention of delayed payments to contractors, hospitals, and fisheries-related businesses in the Maldives further highlights the local relevance of these global concerns.

The World Bank outlines urgent recommendations. Borrowers are advised to publicly disclose transaction-level debt data, expand oversight over unconventional loans, and consent to creditors publishing lending terms. Creditors, in turn, are urged to reconcile loan data, disclose restructuring terms, and include transparency clauses in agreements. Meanwhile, institutions like the World Bank and IMF are encouraged to develop systems for automated data reconciliation and support third-party audits.

Technological solutions like a Loan Clearing Module are already being piloted in Indonesia. These could be replicated in the Maldives, ensuring that both creditors and debt managers maintain real-time, harmonised records.

Ultimately, the report argues, transparency is more than just a technical fix. It is foundational to building trust, ensuring accountability, and avoiding the costly consequences of hidden debt. For small island developing states like the Maldives, which are especially vulnerable to economic shocks, ignoring these warnings could come at a steep price.

Market Rebounds on Maldives Sukuk Amid Stronger Liquidity,

But Risks Persist

The price of the Maldives’ sovereign Sukuk has risen sharply, from approximately USD 64.7 in early April 2025 to USD 87.5 on 8 July, highlighting growing investor confidence that appears to outpace the country’s still-stressed credit standing.

What’s Behind the Rally?

According to the Ministry of Finance and Planning, recent fiscal discipline has bolstered sentiment. In March, the government settled a large private creditor repayment. This was followed by the timely payment of a Sukuk coupon in April. Simultaneously, discussions with bilateral partners have advanced negotiations around an upcoming refinancing package. These moves are credited with reassuring markets of the Maldives’ commitment to honouring its debts.

There is also evidence of favourable external factors. Gross foreign exchange reserves almost doubled from USD 371 million in September 2024 to USD 856 million in April, partly due to a USD 400 million currency swap with India’s central bank and strong tourism inflows.

But Credit Ratings Remain Weak

Despite these improvements, Moody’s and Fitch have retained low sovereign ratings. Moody’s has maintained its rating at Caa2 with a negative outlook since confirming it in December 2024. Fitch affirmed its CC rating in June 2025, warning of very high levels of credit risk and emphasising that default remains a distinct possibility.

These ratings reflect substantial external vulnerabilities, including heavy upcoming debt repayment obligations (USD 688 million due in the second half of 2025 and USD 1.1 billion in 2026), shallow net foreign reserves, and elevated debt-to-GDP ratios projected at around 125 percent for 2026.

So Why the Sukuk Surge?

A disconnect is emerging between market pricing and long-term rating assessments.

First, short-term liquidity gains from the RBI swap and tourist revenues have provided immediate reassurance to investors facing imminent repayments.

Second, tangible policy actions, including the March repayment and April coupon payment, have strengthened the Maldives’ reputation for fiscal responsibility.

Third, renewed refinancing momentum through ongoing negotiations with bilateral creditors signals that long-term financial planning might be stabilising. In effect, investors appear to be treating the Sukuk more like a bet on policy follow-through and liquidity relief than on structural economic strength.

What It Means for the Future

The elevated Sukuk price demonstrates a market-implied recognition that policy interventions are yielding results. Yet the fundamental risks remain entrenched, including low net reserves, significant refinancing needs, and a bloated debt burden. Critics and rating agencies continue to warn that default remains probable unless fiscal reforms advance and buffer reserves rise.

For the Maldives, the challenge lies in converting this temporary market confidence into sustainable fiscal stability. Upcoming refinancing outcomes, reserve improvements, and meaningful reform measures will determine whether the Sukuk price surge represents a genuine turnaround or merely a short-term reprieve.

WEF Roundtable Highlights Strategies Maldives Can Tap for Economic Resilience

At a time of growing uncertainty in global trade, supply chains and investment flows, the World Economic Forum’s inaugural Resilience Leaders’ Roundtable, held on 7 July 2025, offered a clear message: resilient growth in emerging markets will depend on deeper collaboration between businesses, governments and multilateral institutions.

The virtual gathering, which will be followed by in-person sessions in Davos and Riyadh in 2026, brought together key players from international organisations and the private sector to chart a course for economic resilience and innovation in high-potential regions. The discussions centred on four key themes: strengthening local supply chains, incentivising private investment, unlocking capital and accelerating coordinated action.

Relevance for the Maldives

For a country like Maldives, a small island economy navigating climate vulnerability, limited fiscal space and a narrow economic base, the strategies discussed are timely and highly relevant. The country has long relied on tourism and imports, leaving it exposed to global shocks, as we’ve seen and experienced so many times. As the government works to expand sectors such as logistics, fisheries, construction and renewable energy, the need for resilient infrastructure, investment-friendly regulation and longterm planning has never been more urgent.

Local Solutions and Private Sector Engagement

A key takeaway from the roundtable was the importance of embedding resilience at the local level. Private companies that align with community needs and take the lead in adapting supply chains to local contexts are better positioned to handle disruptions. In the Maldives, where local councils and island communities are central to service delivery, this model holds particular promise. Developing regional logistics hubs or decentralised cold storage networks for fisheries, for example, could help the country address both resilience and development goals.

Encouraging Investment Through Reform

The roundtable also highlighted the need for governments to create enabling conditions for private sector growth. Regulatory reform, transparent processes and investor protections were highlighted as vital. With ongoing efforts in the Maldives reform state-owned enterprises and attract more foreign direct investment, the country can take cues from the success stories discussed at the event such as Saudi Arabia’s investment reforms.

Attracting FDI to strategic sectors like renewable energy and digital infrastructure could not only enhance resilience but also generate long-term value in line with the country’s development goals.

Bridging the Finance Gap

Access to capital remains a challenge for many small and emerging economies. The roundtable pointed to the role of multilateral development banks in providing early-stage project preparation, supporting enabling legislation and acting as anchor investors. For the Maldives, partnering with these institutions and exploring blended finance options can help unlock investment in critical areas such as transport, housing and renewable energy, particularly in outer atolls where private capital is often scarce.

The discussion also stressed the importance of legal clarity, local capital market development and data transparency. For the Maldives, establishing consistent investment policies and improving access to economic data can help build investor confidence and reduce perceived risk.

As part of the Forum’s Resilience Consortium, the roundtable concluded with a call to action to convert high-level dialogue into tangible initiatives. For the Maldives, participating in such platforms offers an opportunity to shape and benefit from collective solutions that speak to the realities of small island states.

With rising debt levels, climate pressures and global uncertainty, the country’s long-term resilience will depend not only on how it adapts internally but also on how effectively it engages with global frameworks and partnerships.

Maldivian Tourist arrivals are up. By the first week of July, over 1.15 million visitors had already landed in the Maldives, marking a 9.3 percent increase over the same period last year. June alone saw more than 141,000 arrivals, a 15 percent rise. On paper, it’s a good year so far.

But beneath the numbers, something more troubling is unfolding. Tourists are staying for shorter periods. Resort occupancy is softening. Guesthouses are rapidly gaining market share, now accounting for more than 22 percent of all stays, while the resort model, long the foundation of Maldivian tourism, is slowly being edged out.

For a country that built its global image on exclusivity, tranquillity and one-island-one-resort charm, the shift raises hard questions. Because the Maldives never set out to be a mass-market destination. It succeeded by being rare, by offering something few places could.

The World Economic Forum’s latest report, Travel and Tourism at a Turning Point, could not be more timely. It warns that the coming decade will bring massive growth, with 30 billion global tourist trips and USD 16 trillion in GDP contribution by 2034. But that growth, it cautions, will bring tension between visitors and residents, development and nature, culture and commercialism.

Nowhere are these tensions more relevant than in a nation of small islands and fragile ecosystems. The Maldives is not built for volume. Its carrying capacity is not a matter of spreadsheets and economic models. It is physical, ecological, and cultural

The WEF lays out ten guiding principles. Among them, one stands out: embrace growth segments strategically. Don’t chase every tourist. Focus on those who align with your identity. For the Maldives, that means ecotourism, wellness, and longer, slower, more immersive travel. These are segments growing globally, and they match the country’s DNA.

Another key principle is to commit to regenerative practices. Not just reducing harm, but actively restoring ecosystems. For a country whose natural beauty is its most valuable asset, this is not just good policy, it’s survival.

But the current trajectory risks drifting from these ideals. More guesthouses, more budget airlines, more weekend trips. The Maldives is getting busier, but not necessarily better. Growth is becoming an end in itself, rather than a tool to preserve and enrich what makes this place matter.

Tourism has long been the country’s economic lifeline. But if it comes at the cost of its identity, then it threatens to unravel the very success story it built. Because not all growth is good growth. The world is full of destinations. But the Maldives became iconic by being irreplaceable. That irreplaceability is now at risk, not because the numbers are falling, but because the model is.

The future of Maldivian tourism doesn’t lie in expansion. It lies in distinction. That means turning away from the logic of crowd economies and instead investing in experiences that are authentic, grounded, and deeply connected to place.

Being the Maldives was always more than enough. The real danger is forgetting why.

Maafaru International Airport Upgrade Celebrated with Inaugural Maldivian Flight

The Maldives officially celebrated the completion of the Maafaru International Airport upgrade project with the arrival of a widebody aircraft operated by national airline Maldivian. The aircraft, an A330, was welcomed with a ceremonial water salute, marking the operational readiness of the expanded runway and upgraded facilities.

The event was attended by senior government officials and international partners, including Minister of Economic Development and Trade Mohamed Saeed, Minister of Construction, Housing and Infrastructure Dr Abdulla Muththalib, UAE Ambassador Sheikh Rahma bin Abdulrahman Al Shamsi, Director General of the Abu Dhabi Fund for Development (ADFD) Mohammed Saif Al Suwaidi, and Island Aviation Services Limited (IASL) Managing Director Ibrahim Iyas.

Funded by the United Arab Emirates through the ADFD, the Maafaru International Airport project was completed in two phases, with a total investment exceeding USD 76 million. The first phase, initiated in January 2018 and completed in December 2019, included the construction of a 2,200-metre runway, a passenger terminal building, a VIP lounge, fire and rescue station, control tower, and a jetty for passenger transport.

Phase two involved extending the runway by an additional 650 metres, bringing the total length to 2,850 metres, enabling the airport to accommodate wide-body aircraft such as the Boeing 777-ER300 and large international charter flights. The second phase also included the reclamation of over one million cubic metres of land, the construction of a 5,700-metre revetment, and upgrades to taxiways, airfield lighting, boundary fencing, and asphalt surfacing. This phase was completed in December 2024. Since opening to commercial operations in late 2019, Maafaru has quickly grown into a key gateway for northern Maldives. Located approximately 180 kilometres north of Malé, the airport has recorded over 9,000 flight movements and more than 3,000 international flights between 2019 and June 2025. During this time, it has served over 250,000 passengers across domestic, charter, private jet, and seaplane operations, becoming the second busiest airport in the country.

Operated by IASL, Maafaru International Airport plays a critical role in supporting the tourism industry in Noonu Atoll, which boasts the highest number of high-end resorts in the Maldives, with eight resorts and 14 guest houses currently in operation. A dedicated Jet A-1 fuel farm, commissioned in 2023, supports the airport’s operational efficiency and independence, while a seaplane dock enhances onward connectivity to nearby resorts.

Looking ahead, IASL has announced further expansion plans, including the development of a seaplane hub, an increase in fuel farm capacity, and the initiation of direct international passenger flight operations from Maafaru. A new terminal expansion project is also underway, which will feature a passenger lounge and a city hotel to accommodate increasing demand.

The successful completion of the Maafaru upgrade project is regarded as a major milestone in the government’s broader strategy to modernise aviation infrastructure, promote regional development, and generate new economic opportunities across the country.

Parametric Insurance Could Help Restore Bleached Reefs, Says New Report

As climate A new feasibility study has proposed a first-of-itskind insurance scheme to protect the Maldives’ coral reefs from climate-induced marine heatwaves. Jointly developed by the Maldives Monetary Authority (MMA), the United Nations Development Programme (UNDP) in the Maldives, and AXA Climate, the report explores how parametric insurance could offer rapid financial support when coral bleaching occurs.

Unlike traditional insurance, parametric models are triggered by measurable environmental data rather than damage assessments. In this case, satellite sea temperature readings would determine if a heatwave exceeds a threshold likely to cause coral bleaching. If triggered, the scheme would release funding for emergency reef response and restoration activities.

The study identifies coral bleaching from rising ocean temperatures as the most critical climate-related threat to Maldivian reefs. Past events in 1998 and 2016 caused widespread coral loss, with a similarly damaging episode recorded this year. According to the report, the growing frequency and severity of bleaching events makes the case for financial preparedness stronger than ever.

The report outlines various structures the scheme could take, including national-level coverage or pilot projects involving individual atolls, resorts, or conservation groups. A simulation based on Baa Atoll estimated an annual premium of USD 1.3 million to cover a portion of reef restoration costs. The insurance would not replace long-term conservation work, but complement it by ensuring rapid response funding after severe heat stress events.

The report also notes that while other reef insurance schemes exist globally, most are designed to address cyclone-related risks. In contrast, the Maldives faces heatwave-related coral damage, requiring a different kind of parametric model.

For implementation, the study recommends establishing a dedicated Conservation Trust Fund to act as policyholder and distribute funds during payouts. It further emphasises the need for robust monitoring systems, data collection, and coordination among government, resorts, and marine scientists.

The initiative is seen as a step toward embedding natural asset protection within the country’s financial risk planning and climate resilience strategy.

SDG7 Report Highlights

Renewable Energy Gaps

Across Island States

A newly released global study tracking Sustainable Development Goal 7 (SDG7) has identified continued challenges across Small Island Developing States (SIDS) in expanding renewable energy and securing equitable energy investments, even as some countries including the Maldives have already made notable progress in areas like clean cooking access.

The Tracking SDG7: Energy Progress Report 2025, produced by international agencies including the IEA, IRENA, the World Bank, and the WHO, reveals that many SIDS still lag significantly behind global averages in renewable energy deployment and access to clean energy technologies.

According to the report, the average renewable energy capacity in SIDS stood at just 110 watts per capita in 2023, less than a quarter of the global average of 478 watts. While the Maldives has seen substantial growth in solar and hybrid systems across its islands, this regional snapshot highlights the broader challenge of scaling renewables among island nations with limited land, high import dependence, and fragmented electricity grids.

The report also notes that clean cooking access across SIDS averaged just 60 percent in 2023, a figure that has remained stagnant for over a decade. However, this statistic does not apply to the Maldives, where access to clean cooking fuels, primarily through widespread LPG use, is nearly universal. This discrepancy underscores the importance of interpreting regional data within the context of national realities.

On financing, SIDS received USD 401 million in international public financial flows for energy in 2023, marking a 31.5 percent increase from the previous year. Despite being the lowest total among global regions, SIDS remain among the highest recipients of such funding on a per capita basis. The report recommends strengthening access to concessional finance and project preparation assistance to ensure these funds translate into meaningful infrastructure development.

For the Maldives, which has committed to sourcing 33 percent of its energy needs from renewable sources by 2028, the findings reinforce the need for continued investment in decentralised energy solutions such as off-grid solar and hybrid mini-grids. These technologies are seen as essential not only for household electrification but also for powering island schools, clinics, and businesses.

The report also calls for more gender-inclusive, data-driven national energy strategies, particularly in remote and climatevulnerable contexts like SIDS. It emphasises that sustainable energy access is central to economic resilience and climate adaptation.

As global attention turns to implementing the SDGs by 2030, the Maldives remains well-positioned to lead among SIDS through strategic planning, regional cooperation, and smart deployment of climate and energy finance.

HUMAN RESOURCES

How Maldives’ Businesses Can Adapt to the Expectations of Gen Z and Millennials

A new report by Deloitte reveals key insights into the attitudes and expectations of Generation Z and millennials, who are set to make up nearly three-quarters of the global workforce by 2030. The findings, based on responses from over 23,000 young professionals across 44 countries, highlight significant shifts in career goals, education pathways, and workplace expectations that Maldivian businesses and decision-makers can learn from.

The report shows that for these generations, career success is no longer defined solely by climbing the corporate ladder. Only 6% of Gen Z respondents said their primary career goal is to reach a leadership position. Instead, they seek a “trifecta” of financial security, meaningful work, and well-being. This preference reflects a departure from traditional career paths and highlights the need for employers to rethink how they attract and retain talent.

Financial worries remain a central theme, with nearly half of both generations reporting that they do not feel financially secure. Costof-living concerns continue to top the list of anxieties, contributing to stress and impacting overall happiness. For Maldivian employers, this highlights the importance of offering competitive salaries, but also of supporting employees’ financial literacy and well-being to foster a more engaged and satisfied workforce.

The study also points to a growing interest in alternative education paths. Nearly a third of Gen Zs and millennials said they opted out of higher education, citing high tuition costs and concerns about the relevance of formal education to real-world job markets. This trend suggests that Maldivian decision-makers might consider promoting more vocational training and apprenticeships to bridge skills gaps and attract young talent.

GenAI is another area where these generations are leading the charge. Over half of respondents reported using AI in their daily work, particularly for tasks such as data analysis and content creation. However, concerns about job displacement and automation persist. Maldivian businesses would be wise to invest in both technical training and soft skills development, empathy, leadership, and adaptability are key areas identified in the report.

Mental health remains a pressing issue, with only 52% of Gen Zs and 58% of millennials rating their well-being as good or very good. Stress drivers include long working hours, lack of recognition, and toxic work cultures. The report emphasises the role of managers in addressing these stressors by fostering positive work environments and supporting mental health initiatives. For Maldives’ leaders, this is a reminder that workplace wellness is essential for productivity and employee satisfaction.

Environmental concerns also weigh heavily on the minds of these generations. Over 65% of Gen Zs and 63% of millennials reported feeling anxious about the environment, influencing their buying decisions and career choices. This finding offers an opportunity for Maldivian businesses to strengthen their environmental commitments and communicate these values clearly to attract purpose-driven talent.

The Deloitte report makes clear that young professionals today want more than a paycheck, they want a sense of purpose, opportunities to learn and grow, and a workplace that respects their well-being. For Maldives’ business leaders and policymakers, the lesson is simple: to attract and retain the next generation of talent, create an environment where money, meaning, and wellbeing intersect, and invest in both hard and soft skills that equip employees for a changing world of work.

Does Pay Transparency Have a Role in Achieving Pay Equity in the Maldives?

Pay equity has long been an aspiration for many economies. In recent years, the concept of pay transparency has gained momentum as a potential lever for closing wage gaps. But can making salaries more visible lead to a fairer pay structure in the Maldives?

In global contexts, pay transparency has been linked to shrinking gender wage gaps, increased employee trust, and greater organisational accountability. From Norway’s public tax records to recent laws in the United States and the European Union requiring companies to disclose pay ranges, the idea is straightforward: when salaries are no longer a secret, it becomes harder to justify unfair disparities.

In the Maldivian context, however, the conversation is still in its infancy. While there are broad labour protections under the Employment Act and regulatory oversight from the Labour Relations Authority, wage transparency is not a legal requirement. In fact, salary information in most organisations, particularly in the private sector, is treated as confidential with limited disclosure even internally.

Yet, the Maldives is no stranger to pay disparities. Public sector salaries are accessible through government gazettes, revealing a steep gradient between political appointees, technical staff, and clerical workers. In the private sector, anecdotal evidence suggests wage gaps between locals and expatriates, men and women, and even across resorts for the same job role. Without data, however, those gaps remain speculative and unaddressed.

How Pay Transparency Could Help

Introducing greater transparency does not necessarily mean publishing everyone’s salary. It can begin with clearly defined pay bands, making it clear what a role is worth and how progression works. Such a framework allows employees to better understand where they stand and whether they are being paid fairly relative to peers.

Transparency can also help companies themselves. With well-documented compensation structures, businesses can improve recruitment, retention, and morale. It reduces room for favouritism, negotiation bias, or arbitrary decisions, which are common drivers of inequity.

In sectors such as hospitality, where a significant portion of the workforce comprises expatriates and service charges supplement basic pay, transparency in total compensation could also reduce tensions and improve trust between staff and management.

Risks and Cultural Resistance

That said, a move towards greater openness in pay will not be culturally neutral. The Maldivian workplace is often shaped by hierarchy, seniority, and discretion. Openly discussing salaries may feel intrusive or uncomfortable, particularly in small teams where anonymity is impossible.

There is also the risk that, without proper context or communication, transparency could backfire. It may lead to jealousy, misunderstanding, or internal dissatisfaction if discrepancies are not addressed in tandem with structural reforms.

Where to Begin

For companies in the Maldives considering this shift, a phased approach might be most appropriate. Begin by conducting internal pay audits to identify gaps. Establish consistent job grading systems. Make salary ranges clear during recruitment. Offer employees insight into how compensation decisions are made. It is also important to ensure that managers are trained to communicate about pay in an informed and equitable way.

Government bodies and industry associations can also play a role. Encouraging best practices, offering toolkits for businesses, and piloting voluntary pay reporting schemes could help lay the groundwork.

Ultimately, pay transparency is not a silver bullet. But in a country striving for economic fairness, sustainable development, and inclusive growth, it may well be a necessary step. For equity to thrive, people must first know where they stand.

Reimagining

Human Resources has traditionally been viewed as the department responsible for hiring, managing performance, and ensuring compliance. But in a world increasingly shaped by automation, artificial intelligence, and digital platforms, HR must evolve. It is no longer enough to manage people in isolation from technology. Today, the real challenge lies in fusing human capability with technological progress to create adaptive, resilient organisations.

This shift is particularly relevant for the Maldives, where digital transformation is gaining momentum across industries. From the expansion of fintech and e-commerce to the digitalisation of public services and tourism operations, organisations must rethink how they work. HR sits at the heart of this transformation, and its role must be redefined.

From Support Function to Strategic Engine

To stay competitive, HR must move beyond its traditional boundaries. It should no longer be viewed as a support function but rather as a core driver of organisational design, culture, and agility. In modern workplaces, where technology handles many repetitive or routine tasks, HR must help shape new team structures and work models that combine human creativity with machine efficiency.

For instance, when introducing AI tools in a service-based organisation, HR should not only consider training requirements but also anticipate changes in job roles, communication styles, and expectations. This requires HR professionals to collaborate more closely with IT, strategy, and operations teams.

From Support Function to Strategic Engine

In many Maldivian workplaces, change is treated as a response to crisis or leadership change. Organisational redesigns tend to be infrequent and often lack long-term follow-through. However, a more forward-looking approach treats change as a continuous process.

Rather than seeing the organisation as a fixed structure that is adjusted only when necessary, HR can help build systems that evolve gradually and constantly. This might involve regularly reviewing team performance, employee engagement, customer feedback, and new technologies to inform incremental changes in the workplace.

Such an approach allows organisations to stay responsive to market shifts, economic pressures, and customer needs. It also helps build a culture that embraces adaptation, which is crucial in the face of global uncertainty and rapid innovation.

From Support Function to Strategic Engine

In the Maldives, sectors such as tourism, retail, logistics, and financial services are beginning to rely more heavily on technology. From biometric staff attendance systems at resorts to customer service bots in financial apps, the blend of people and machines is becoming the norm.

HR must guide this evolution by helping organisations design job roles that reflect this blend. The hospitality industry, for example, may need to rethink how frontline service roles interact with automation. Similarly, government offices adopting e-governance tools must ensure their employees are supported through digital upskilling and workflow redesign.

The potential benefits are significant. Organisations that actively redesign their structures and processes in alignment with ongoing change have been shown to experience better growth and higher customer satisfaction. For the Maldives, this could mean stronger businesses, better services, and more resilient institutions.

Getting Started

HR leaders in the Maldives can begin by developing a clearer understanding of their organisation’s operating model. They can map how work gets done today, identify where technology is already playing a role, and explore where future changes are likely to occur. From there, they can help design structures that are more agile, more inclusive, and better suited to evolving demands.

Just as importantly, HR professionals themselves need to grow. That includes developing skills in data analysis, behavioural science, and strategic thinking. With the right mindset and capabilities, HR can shape not only the workforce, but the very future of how work is done.

In a small island nation looking to modernise, diversify, and remain globally connected, the role of HR has never been more important. It is time to stop seeing HR as simply a people function. It is a transformation function. And the future of work in the Maldives depends on it.

HUMAN RESOURCES

Skills in Motion: How Learning Speed Drives Business Success

In today’s fast-changing business environment, it is no longer just about what your employees know. What matters more is how quickly they can learn something new. Recent research from global HR advisory firm The Josh Bersin Company has found that skills velocity, the speed at which employees acquire new skills, has a greater impact on business performance than having deep expertise in a single area.

This insight is especially relevant to Maldivian businesses, many of which are navigating significant changes in digitalisation, customer expectations, and operational models. The report, which examined leading companies across six industries over a fouryear period, identified that organisations able to adapt and reskill quickly were consistently outperforming their competitors. These businesses were not only more financially successful, but also recognised for high customer satisfaction, strong talent strategies, and leadership in innovation.

Rather than focusing on static skillsets, these top-performing organisations build cultures that encourage ongoing learning and flexibility. In such environments, employees are expected to grow beyond the limits of their original job descriptions and respond quickly to new tools, technologies, and business challenges. Today, success is tied closely to an organisation’s ability to support its people in evolving constantly.

Nowhere is this more evident than in the rapid advancement of artificial intelligence. The pace at which AI is developing means even leading industry figures cannot predict exactly what is coming next. Earlier this year, OpenAI introduced a new generation of AI agents capable of handling research, coding, and administrative work, all at a fraction of the cost of human employees. These developments are pushing businesses to rethink not only their talent strategies but also the structure of work itself.

Maldivian companies are beginning to feel these effects. In sectors such as tourism, banking, logistics, and hospitality, organisations are adopting digital tools like automated booking systems, chatbots, and fraud detection platforms powered by AI. However, many businesses in the Maldives still treat training as a one-off exercise rather than an ongoing strategy. This approach could leave them at a disadvantage.

The research also highlights the growing importance of AI in HR management itself. The most successful companies are implementing AI-powered systems to make recruitment more dynamic, personalise learning pathways, and better align employees with business needs. In these organisations, talent is not managed reactively but is continuously nurtured and developed through insights and data.

For employers in the Maldives, this means looking differently at how people learn and grow. Encouraging job rotations, short-term projects, and learning while working can help staff build new skills without interrupting their roles. It also means building a culture where curiosity, adaptability, and resilience are valued.

The advantages of this approach are clear. Companies that prioritise adaptability and learning speed are more likely to grow, retain top talent, and handle disruption effectively. For a small island economy like the Maldives that must remain connected to global shifts, this mindset can offer a real competitive edge.

The key message for Maldivian business leaders and HR professionals is straightforward. While deep expertise remains useful, it is no longer enough on its own. True success lies in creating a workplace where employees are empowered to learn and adapt rapidly. In a world where change is the only constant, it is not the strongest or the smartest who thrive, but those who can learn the fastest.

AI Is Redefining Finance Jobs. What Comes Next?

The Maldives is undergoing a financial transformation. From mobile wallets to fintech startups, a wave of digital finance innovation is reshaping the way Maldivians transact, save, and manage their money. In a country made up of dispersed atolls where physical access to banking can be challenging, the shift to digital is not only a convenience, it is a necessity.

As artificial intelligence continues to weave itself into the fabric of global finance operations, the same shift is beginning to take root in the Maldives. From streamlining processes to reimagining job roles, AI is forcing finance teams to rethink not only how they work, but what skills they value and what the finance function ultimately stands for.

Across industries, traditional roles in finance are being redefined. The idea that AI merely automates the mundane is giving way to a new reality: AI does not just do the grunt work, it now performs entire layers of operational tasks that once defined entry-level finance jobs. From invoice reconciliation to vendor analyses, tasks that required human labour just a few years ago are increasingly handled by intelligent systems that can process large volumes of data with greater speed and accuracy.

What this means for finance professionals is twofold. Firstly, finance staff are shifting from doing the work to reviewing the work. AI becomes the junior team member that needs to be audited, not simply used. This change introduces new responsibilities. Professionals must now validate AI outputs, ensure financial accuracy, and translate these results into actionable insights for decisionmakers.

Secondly, entry into the finance profession may become more complex. The traditional route of starting in data entry or basic reconciliation tasks no longer offers the same foundational training when such tasks are handled by machines. There is an emerging risk that young professionals will be left without the handson experience they need to develop expertise. To mitigate this, organisations may need to rethink how they onboard and train new hires, incorporating supervised AI workflows and structured learning environments.

As AI reshapes job responsibilities, it is also altering the skill sets that finance teams must cultivate. A basic understanding of accounting principles is no longer enough. Data literacy, familiarity with coding languages like SQL, and the ability to work with large datasets are becoming essential. For a country like the Maldives, where the finance sector is still building its technological base, this presents both a challenge and an opportunity.

Local businesses, especially SMEs and institutions in the public sector, may need to invest more deliberately in upskilling their workforce. Initiatives like internal AI training sessions, collaborative innovation challenges, and partnerships with local academic institutions could help close the skills gap. For larger financial institutions, the path may lie in creating hybrid roles. These are professionals who understand both finance and technology and who can bridge the divide between automated systems and strategic decision-making.

Perhaps most significantly, the shift to AI is changing how finance departments define their core value. Instead of being seen solely as gatekeepers of transactional data, finance teams are increasingly positioned as internal advisors, helping organisations extract meaning from financial data and shape future strategy. The focus is no longer on process execution but on insight generation and value creation.

Yet this transformation is not without regulatory implications. The introduction of AI into audits, reporting, and financial decision-making brings with it concerns about accountability, oversight, and accuracy. Maldivian financial regulators and professional bodies may soon have to grapple with the same questions their global counterparts are facing, such as how to ensure that AI-led processes remain trustworthy, compliant, and transparent.

In this evolving landscape, one thing remains clear: the finance function cannot afford to stay still. Whether through public policy, private sector innovation, or professional development, the future of finance will depend not just on adopting technology but on redefining the human role within it.

Diversifying Dollar Access:

MIB’s Untapped Potential to Serve Maldivians

The Maldives For years, the Bank of Maldives (BML) has carried the burden of being the country’s primary source of US dollar services for citizens. In a nation heavily reliant on imports and outbound transactions, the demand for dollars touches every corner of daily life. Students paying overseas tuition fees, families seeking medical treatment abroad, and migrant workers sending remittances home all depend on reliable access. However, the burden of navigating dollar scarcity is becoming too great for a single provider to manage efficiently and equitably.

This is where Maldives Islamic Bank (MIB) could make a meaningful difference.

The Everyday Struggle for Dollars

Maldivians seeking access to US dollars often face restrictions that can seem arbitrary. At the centre of this is the limited monthly foreign transaction limit imposed on MVR-denominated cards. Most recently, the Bank of Maldives raised this limit from USD 250 to USD 500 per month for foreign payments from their debit cards, and maintained a cap of USD 125 for overseas ATM withdrawals, which incur a fee of USD 10 per transaction.

In addition to these constraints, the bank has introduced a new transaction fee of up to 30 percent on purchases made from selected e-commerce platforms. This includes popular sites such as Temu, Shein, Alibaba, AliExpress, Lazada, and eBay. For ordinary consumers, especially young people and families who rely on these platforms for affordable goods, this fee represents a significant barrier to accessing international markets.

The challenges are especially acute for students pursuing education abroad, patients requiring foreign medical services, and families making legitimate foreign payments for subscriptions, digital tools, or travel. Many are forced to rely on informal markets, at exchange rates far worse than the official rate. This not only leads to inefficiency and inequity but also risks distorting the broader financial system.

Why MIB Is Uniquely Positioned

While BML remains the dominant player, MIB’s rise in recent years cannot be ignored. It has established a solid digital infrastructure, seen steady growth in its customer base, and gained public trust through its Sharia-compliant offerings. Despite this, its current capacity to serve citizens with dollars remains limited, especially in comparison to BML.

As of now, MIB allows only customers with salary deposits to access international transactions, with foreign transaction limits capped at USD 250. This is lower than BML’s limits currently and excludes many everyday users, including self-employed individuals and small business owners. Moreover, MIB’s cards are not yet enabled for broader foreign use in the same seamless way as their competitor’s.

Yet with targeted reforms and the right backing, MIB could do much more. Its Sharia-compliant principles could appeal to a wide demographic. Expanding MIB’s role would not only improve dollar access but also introduce much-needed competition into a space long held by a single bank.

The Case for Diversification

Financial monopolies, especially in small island economies, can stifle innovation, reduce service quality, and increase systemic risk. Diversifying the providers of dollar services is not just good economic strategy. It is also sound policy. A healthy financial ecosystem benefits from multiple institutions innovating in parallel, each pushing the other to improve their services and better meet citizen needs.

By equipping MIB to operate more competitively in the foreign currency space, customers would have more options. The load currently borne by BML would be more equitably distributed. This could also reduce congestion, improve turnaround times, and create price stability in the unofficial forex market by offering more formal access points.

What

MMA Could Do to Support This Shift

To make this a reality, regulatory and institutional support will be crucial. The Maldives Monetary Authority (MMA) could play an enabling role through several key measures.

First, MMA could increase foreign currency allocations for both MIB and BML, allowing them to expand access to dollar services. Second, it could provide regulatory clarity and flexibility to encourage innovation in dollar transactions, including support for Sharia-compliant dollar credit and digital cross-border tools. Third, MMA could take a more active role in promoting financial literacy across the country, working alongside all licensed banks to help the public better understand their options and navigate available services confidently.

MMA’s recent policies, such as requiring tourism-related businesses to convert their foreign currency earnings, show a willingness to rebalance dollar flows in the economy. A similar rebalancing is now needed in consumer-facing dollar services.

A More Inclusive and Sustainable Future

Dollar access should not be a privilege of proximity or legacy bank accounts. It should be a basic financial right for all Maldivians. Expanding MIB’s role in this ecosystem would reflect a more inclusive financial vision. One that distributes opportunity across religious, economic, and geographic lines.

While BML’s long-standing role remains important, the future demands a broader playing field. By tapping into its existing strengths and receiving the right institutional backing, MIB could be a real contender in ensuring that no Maldivian is forced to rely on informal workarounds to participate in the global economy. The time to act is now. The need is real. And the solution may be closer than we think.

The Maldives Monetary Authority’s (MMA) Economic Update for June 2025 paints a mixed picture of the country’s monetary environment, with broad money continuing to expand while reserve money contracts and credit growth shows signs of easing. According to the latest data, broad money (M2) grew by 10% at the end of May 2025, accelerating from the 7% recorded in April. This growth was largely driven by increased local currency deposits, as well as time and savings deposits in both local and foreign currency. The rise in money supply was underpinned by higher domestic credit, particularly increased lending to the government and the private sector. Notably, net foreign assets also increased as the accumulation of foreign assets outpaced the growth in liabilities.

In contrast, reserve money (M0) fell by 3% at the end of May, continuing the decline seen in April. This was mainly attributed to a drop in net foreign assets, which outweighed gains in net domestic assets. A key factor behind the reduction was the continued impact of the US$400 million currency swap obtained from the Reserve Bank of India in late 2024, which raised foreign liabilities despite rising foreign reserves.

Credit to the private sector grew by 5% in May, slowing from the 7% annual growth recorded in April. Despite the deceleration, lending to key sectors such as tourism, construction, real estate, and commerce remained strong. The largest growth was seen in personal loans, which expanded by 25% year-on-year, reflecting increased demand for consumer credit, especially through credit cards and loans for consumer durables.

Meanwhile, gross international reserves stood at US$815.8 million at the end of May, marking a 66% increase compared to the same period in 2024, although this represented a 5% decline compared to April. The fluctuation reflects both external inflows and drawdowns in the reserve position.

Overall, the data suggests that while domestic liquidity and bank credit continue to support economic activity, the decline in reserve money and slight softening in credit growth indicate underlying pressures in the financial system. The MMA and Ministry of Finance continue to monitor these trends closely, especially in light of persistent fiscal deficits and rising government debt, which reached MVR 125.3 billion or 104% of GDP by the end of Q1 2025.

WEF Highlights Urgent Priorities for Fintech Growth

As the fintech industry transitions from a phase of rapid expansion into one focused on sustainable growth and collaboration, there are pressing lessons for Maldivian policymakers and business leaders seeking to strengthen the country’s financial infrastructure and unlock opportunities in digital finance.

The World Economic Forum’s second edition of The Future of Global Fintech offers insight into how fintechs globally are weathering economic uncertainty, adopting artificial intelligence, building strategic partnerships, and extending financial services to underserved populations. The Maldives, still at a nascent stage of its fintech evolution, can draw critical lessons from these developments.

Sustainable Growth over Disruption

Global fintechs are now prioritising revenue stability and operational efficiency over breakneck user growth. Between 2022 and 2023, fintech revenue grew by 40 percent while profits rose by 39 percent, despite a slowdown in customer acquisition. This shift reflects a maturing market where success is measured not by hype or user numbers but by financial performance and inclusion.

For the Maldives, where digital finance adoption remains uneven, the focus must be on building trusted, long-term value propositions rather than chasing short-term metrics. This means encouraging fintechs that offer genuine financial access and solutions for micro, small, and medium enterprises (MSMEs), lowincome households, and women. Globally, these segments now account for a substantial share of fintech revenue.

AI and the Productivity Revolution

Globally, 80 percent of fintechs are using or planning to use artificial intelligence in at least one business function, with applications spanning customer service, fraud detection, and process automation. These investments are paying off: 74 percent of fintechs report improved profitability and 83 percent say customer experience has improved.

For the Maldives, this illustrates the need to upskill the financial services workforce, ensure regulators understand AI applications, and promote safe AI use. The country’s banks and fintechs should consider AI not as a future ambition, but a current business imperative with room for responsible experimentation, particularly in enhancing service delivery and reducing operational costs.

Financial Inclusion Can Be Profitable

One of the most striking findings in the report is that fintechs are proving that financial inclusion is not just a social mission. It is good business. In emerging economies, over 50 percent of fintechs’ customer base and revenue now comes from low-income, rural, and underserved groups.

Maldivian fintechs must seize this opportunity. With a decentralised island geography and limited branch networks, digital solutions can bridge access gaps, particularly for atoll communities, women, and informal workers. Policy should support this through grants, tax incentives, and sandbox environments for inclusive fintech products.

Partnerships Matter More Than Disruption

Rather than competing head-to-head, most fintechs are collaborating with traditional banks. API integration, co-branded services, and joint ventures are now standard. These partnerships not only provide technology access but also help fintechs gain credibility, funding, and customers.

Maldivian regulators and banking institutions should create an enabling environment for such partnerships, with clear rules on data sharing, customer protection, and operational responsibility. A local open banking framework could be a game-changer, allowing controlled data access and driving innovation.

Digital Infrastructure Must Be a National Priority

Across regions, fintechs identified integrated e-KYC systems, realtime payment platforms, and robust cross-border data frameworks as essential enablers of growth. These fall under the umbrella of Digital Public Infrastructure (DPI), foundational systems that underpin safe, inclusive, and scalable digital economies.

In the Maldives, the government’s Maldives 2.0 initiative presents an important step in this direction. Aimed at modernising the state’s digital services and integrating them through a unified platform, the initiative signals a commitment to improving public service delivery and fostering digital readiness. However, to fully realise fintech’s potential, Maldives 2.0 must be aligned with financial sector needs. This includes developing a national e-KYC system linked to digital identity and credit data, building interoperable payment infrastructure, and enabling secure datasharing frameworks. Such systems would lower entry barriers for startups, improve regulatory oversight, and position the Maldives to benefit from regional fintech expansion.

Regulatory Readiness Is Key

Rather than competing head-to-head, most fintechs are collaborating with traditional banks. API integration, co-branded services, and joint ventures are now standard. These partnerships not only provide technology access but also help fintechs gain credibility, funding, and customers.

Maldivian regulators and banking institutions should create an enabling environment for such partnerships, with clear rules on data sharing, customer protection, and operational responsibility. A local open banking framework could be a game-changer, allowing controlled data access and driving innovation.

Turning Insight into Action

As global fintech moves into a more cooperative, inclusive, and AIdriven phase, the Maldives has a chance to define its own path. That path must be guided by evidence, shaped by partnerships, and anchored in digital infrastructure.

For policymakers, the imperative is to design forward-looking regulation, support inclusion, and invest in national infrastructure. For business leaders, the call is to focus on real problems and build sustainable, scalable solutions. The lesson from the global fintech landscape is clear: inclusion and innovation are not mutually exclusive. They are intertwined.

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At FfD4, Maldives Pushes for Equity in Global Finance and Resilience Building

Vice President Hussain Mohamed Latheef has called for urgent reforms to the international financial system, highlighting the structural barriers faced by Small Island Developing States (SIDS) like the Maldives. Delivering the Maldives’ plenary statement at the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, the Vice President stressed the importance of equitable access to finance, meaningful debt relief, and building national capacity for sustainable development.

In his remarks, the Vice President noted that geopolitical tensions and global conflicts continue to affect supply chains and heighten economic uncertainty, making the development path more complex for countries like the Maldives. Despite these challenges, he outlined a range of domestic initiatives undertaken to strengthen economic resilience and growth.

Among the measures highlighted were the launch of international bunkering services and the creation of the Development Bank of Maldives to support long-term social and economic development. He also noted ongoing work to develop a modern financial ecosystem through the Maldives International Financial Services Authority and the Maldives International Finance Centre, which has reportedly secured investment commitments of up to USD 8 billion.

The Vice President drew attention to efforts to diversify trade, including the expansion of fisheries exports, and to infrastructure projects such as the new terminal at Velana International Airport, set to open in July. The upgraded terminal is expected to triple passenger capacity to 7 million per year.

Emphasising inclusive growth, the Vice President said the government is prioritising micro, small, and medium-sized enterprises (MSMEs), particularly those led by women and youth. He referenced the country’s creative economy strategy and investment in climate-positive enterprise development.

Turning to global financial issues, the Vice President expressed concern about the lack of access to concessional finance for SIDS and the continued reliance on commercial borrowing. He advocated for a “debt relief for resilience-building” approach, encouraging creditors to tie relief to investment in resilience and long-term development.

He also urged fellow delegates to translate the Seville Commitment into tangible action, arguing that development efforts must be supported by global cooperation and reform. “Achieving this vision requires courage, cooperation, and reform of a system that too often leaves the most vulnerable behind,” he said.

The FfD4 conference, brought together governments, international financial institutions, civil society, and private sector actors to discuss the future of global financial architecture and sustainable development financing.

The Maldives recently signed a visa waiver agreement with the Commonwealth of Dominica, allowing Maldivians and Dominicans to travel between the two countries without a visa for stays of up to 30 days. At first glance, the announcement may seem of little consequence. Dominica is a small island nation in the Caribbean, and most Maldivians are unlikely to visit any time soon. But to dismiss the move would be to misunderstand the quiet power of diplomacy and the strategic value of strengthening a nation’s passport.

In foreign policy, not every decision is made for immediate impact. Some agreements are designed to build long-term resilience and expand a country’s global reach. Visa exemptions fall squarely into that category. Even if few Maldivians will take advantage of the new access to Dominica, the agreement plays a crucial role in shaping how the Maldivian passport is perceived and ranked internationally.

According to the latest Henley Passport Index, the Maldivian passport currently ranks 58th globally, granting holders visa-free or visa-on-arrival access to over 90 countries and territories. This includes not only regional neighbours such as India and Sri Lanka, but also small island nations and Caribbean states, many of which share common interests with the Maldives on global platforms. Each new visa waiver agreement enhances this standing. A stronger passport offers more than ease of travel. It signals that a country is trusted, stable, and seen as a responsible member of the international community. It becomes easier for citizens to attend international forums, pursue academic opportunities, or access medical care abroad. Even routine travel becomes smoother when fewer visa barriers exist.

Critics might question the value of such deals with faraway nations where travel volumes remain minimal. There are no direct flights to Dominica, no major trade ties, and no significant shared diaspora. But diplomacy is not about immediate reciprocity. It is about positioning. Every agreement contributes to a broader network of bilateral ties, and every connection opens the door to future cooperation. For small island developing states like the Maldives, building alliances with countries that share similar vulnerabilities to climate change or development challenges can lead to stronger coalitions in international negotiations.

This agreement also reinforces the Maldives’ proactive approach to foreign policy. By steadily increasing the number of countries with which it holds visa exemption arrangements, the government is helping to raise the profile of Maldivian citizenship. It demonstrates to the world that the Maldives is open, globally engaged, and committed to building partnerships beyond geography or trade.

Moreover, a powerful passport is a matter of dignity. It affects how Maldivians are treated at borders. It reduces the frustration of lengthy visa applications, document verifications, and rejections. For those working, studying, or representing the country abroad, it can mean the difference between inclusion and exclusion.

So while most Maldivians may never visit Dominica, the agreement still matters. It is another step in a broader strategy to expand access, improve mobility, and strengthen the Maldives’ position on the world stage. It is a reminder that foreign policy, though often invisible in daily life, is working quietly in the background to make the Maldivian passport more respected and more powerful.

Climate as Foreign Policy: Why Environmental Diplomacy Is the Maldives’ Strongest Card

For a nation spread across just over a metre of land above sea level, climate change is less an abstract issue than an existential threat. Malé sits increasingly at risk from rising tides, coastal erosion, coral bleaching, and intensifying storms. Yet, this vulnerability has given the Maldives a powerful role on the global stage, transforming climate diplomacy into a strategic tool that shapes international partnerships and drives vital resources for adaptation and defence.

Since the late 1980s, the Maldives has harnessed the moral authority that comes from being among the first places to feel climate change’s impact. Former Foreign Minister Abdulla Shahid once stated that the entire life of our nation is dependent on the elements of nature and pressed the United Nations to listen to small island states calling for urgent action.

This leadership began with the groundbreaking Small States Conference on Sea Level Rise, held in Malé in 1989, which helped establish the Alliance of Small Island States (AOSIS). The Maldives helped secure a global commitment to limit global temperature rises to 1.5 degrees Celsius, a threshold now enshrined in the 2015 Paris Agreement.

Building on that legacy, the Maldives has consistently placed climate at the centre of its foreign policy. It is a leading voice in UN climate talks via AOSIS and the Group of 77. Its recent ratification of the Climate Emergency Act and ambitious net zero target by 2030 demonstrate the country’s seriousness. In 2024 and 2025 the Maldives pushed hard for operationalising the loss and damage fund and achieving a global goal on adaptation during COP negotiations.

This climate diplomacy accomplishes more than moral advocacy. It yields practical dividends across foreign relations. By championing adaptation and resilience, the Maldives has attracted support from major partners including India, China, the EU, and UN agencies. India has extended climate-focused aid and flexible financing. China provides infrastructure support. Multilateral climate funds increasingly favour small island developing states due to Maldivesled advocacy.

The Maldives also leverages its climate narrative to build diplomatic coalitions, including AOSIS and the Climate Vulnerable Forum, where former President Mohamed Nasheed now serves as Secretary General. These platforms amplify its voice alongside vulnerable small nations from the Caribbean, Pacific, and beyond.

Domestically, this foreign policy posture strengthens green investment, access to financing, and international reputation. It helps justify multilateral support for climate-smart island projects, coral restoration efforts, flood defences, and renewable energy expansion, all of which are essential for economic diversification in tourism, fisheries, and beyond.

Moreover, climate diplomacy enhances the Maldives’ influence in broader geostrategic discussions. In the contested waters of the Indian Ocean, highlighting climate resilience signals both strategic importance and sovereign credibility. This gives the Maldives leverage when engaging with power blocs such as India, China, and Western donor states.

Central to this approach is the idea that environmental diplomacy is not passive advocacy. It is proactive and productive statecraft. The Maldives has repeatedly shown that by turning vulnerability into diplomatic capital, smaller nations can shape multilateral agendas, negotiate finance, secure technical support, and elevate their global standing.

In short, climate diplomacy is not a sideline. It is the core of modern Maldivian foreign policy. Far from being simply a matter of moral appeal, it lays the basis for economic security, strategic partnerships, and geopolitical relevance. For the Maldives, the fight against climate change is not only about survival. It defines its voice in the world and shapes its future.

Should Maldivian Brands Fully Embrace AI in Social Media?

As the AI boom extends its reach into nearly every business corner, social media management has become a proving ground for technology’s capabilities, and its limitations. Even here in the Maldives, brands are feeling the pull of AI tools that promise faster content creation, design, and campaign management. But does that mean every business should jump on the bandwagon?

Looking at the changes in global businesses, Duolingo’s shift to an “AI-first” model, along with an influx of job postings highlighting AI as a desired skill, signals a clear direction for the global business landscape. Even in the Maldives, companies are beginning to explore how these technological advancements can enhance their social media presence. Yet, it’s not a simple matter of efficiency; questions of authenticity, creativity, and potential backlash loom large.

AI-powered efficiency appeals to businesses that want to ride the wave of technological advancement, especially in fast-paced social media spaces. Products like Adobe Firefly and Express have made it easier than ever to generate visuals, designs, and marketing collateral with just a few clicks. For small businesses, these tools are a game-changer, offering professional-grade outputs without the need for expensive photo shoots or vast stock image libraries. But creative work is inherently human. Much of the Maldives’ allure, its hospitality, its crafts, and its personal touch, comes from real people telling real stories. Some social media experts argue that brands may soon seek to prove their “reality,” focusing on behind-the-scenes content and authentic craftsmanship. This strategy aims to connect with consumers who are increasingly wary of AI-generated content that lacks the human element.

Instances elsewhere have shown that AI-generated content can lead to negative responses. Coca-Cola’s AI-driven holiday ads drew criticism, and fast-fashion giant H&M faced scrutiny over its AI-generated models. In a small market like the Maldives, a single negative post could go viral and harm a brand’s reputation far beyond the initial customer base. The risk is not merely hypothetical, it’s a strategic consideration that every business must weigh carefully.

For many businesses, AI tools are undeniably helpful. They can speed up ideation, expand creative possibilities, and keep costs in check. But they also introduce new complexities. When AI is trained on a brand’s existing data, it can produce visuals that align with the brand’s identity, but where is the line between inspiration and repetition? This question becomes particularly relevant in a tourism-dependent economy like the Maldives, where brand image is tied to trust, authenticity, and originality.

The conversation around AI in social media is not one-sided. Some businesses are embracing AI as a way to stay competitive and relevant. Others are cautious, worried about diluting their brand’s unique voice or inadvertently offending their customer base. For Maldivian businesses, the key may lie in balancing AI’s advantages with a commitment to authenticity and quality, leveraging technology without losing sight of the human touch that makes the Maldives a special place to live, work, and visit

As countries around the world turn to artificial intelligence (AI) to transform their health systems, the Maldives too stands at a critical juncture. With increasing interest in digital health technologies, there is growing momentum to integrate AI tools into the country’s health infrastructure. Yet, doing so without clear principles and safeguards could lead to unintended harms, particularly in a system that already faces challenges of scale, equity, and trust.

A new report by the Center for Global Health AI, “The CHAI Responsible AI Guide,” offers a practical framework for countries like the Maldives to move forward thoughtfully. It makes one thing clear: AI should not be viewed simply as a tool to modernise healthcare, but as a deeply political and ethical undertaking. It must be anchored in the lived realities of patients and health workers alike.

To start with, the Maldives must ask a foundational question: What problems are we solving? Rather than deploying AI for its own sake, the country needs to identify health challenges where AI adds real value, for instance, improving diagnostics in remote atolls, reducing administrative burdens on overworked doctors, or analysing health trends to strengthen disease prevention.

The report strongly cautions against outsourcing critical thinking to machines. Human oversight should remain at the centre of healthcare decision-making, particularly in sensitive areas such as diagnostics, triaging, and patient engagement. AI tools can be powerful assistants, but they should never replace human judgement. In a small island nation with limited specialist expertise, this balance is especially vital.

Moreover, the guide warns against “pilot project fatigue,” a cycle where governments trial new AI systems without follow-through or scale. For the Maldives, the challenge is to build continuity. AI must be integrated into long-term health strategies, supported by local capacity and clear governance structures.

Public trust will also be central. Communities must be informed about how their data is used, how AI makes decisions, and who is accountable when things go wrong. This means not only technical transparency but also engaging citizens in plain language. In a country where digital literacy varies widely, especially outside the capital, such engagement cannot be an afterthought.

Crucially, the report insists on equity: AI must not deepen existing divides. If AI tools are trained on biased data or only deployed in wealthier regions, they risk reproducing systemic inequalities. For the Maldives, this is a real concern, given disparities in healthcare access between Malé and the outer islands.

To ensure accountability, the Maldives could adopt practices like algorithmic audits, public registers of health AI systems, and clear grievance mechanisms for patients. Partnerships with regional universities, civil society groups, and regulators could help build the legal and institutional frameworks required.

Ultimately, the Maldives should approach AI in healthcare not as a shortcut, but as a long-term investment in building resilient, inclusive, and trustworthy systems. By grounding AI use in ethical principles and real-world needs, the country can avoid the pitfalls of techno-solutionism and instead, build a digital health system that truly serves its people

The Maldives recorded MVR 4.4 billion in imports this May, a slight dip from the same month last year, while exports grew by nearly 28 percent, driven by increased demand for frozen skipjack tuna. The latest trade data, released by Maldives Customs Service, shows notable shifts in import composition and export markets compared to May 2024.

While total imports (including fuel) declined marginally from MVR 4.5 billion in May 2024 to MVR 4.4 billion in May 2025, non-fuel imports rose from MVR 3.3 billion to MVR 3.6 billion. Fuel imports dropped significantly over the same period, falling from MVR 1.14 billion to MVR 790 million.

Food remained the largest category of non-fuel imports in May 2025, reaching MVR 906 million — up from MVR 736 million a year earlier. Machinery and electrical appliances saw a decline from MVR 739 million to MVR 638 million, while imports of vessels and aircraft parts decreased from MVR 459 million to MVR 389 million. Meanwhile, exports rose from MVR 141 million in May 2024 to MVR 180 million in May 2025. Frozen skipjack tuna saw the largest increase, nearly doubling from MVR 55 million to MVR 107 million year-on-year. Exports of preserved skipjack tuna also edged up from MVR 39 million to MVR 41 million. However, exports of yellowfin tuna (both frozen and fresh) declined.

Thailand remained the top export destination, increasing its share from 48 percent (MVR 68 million) in 2024 to 50 percent (MVR 89 million) in 2025. The United Kingdom retained its second-place position, importing MVR 36 million in Maldivian goods, up from MVR 31 million the previous year.

On the import side, the United Arab Emirates took the lead in May 2025 with imports worth MVR 908 million, overtaking Oman, which was the largest source of imports in May 2024. India’s import share remained consistent, with a slight increase from MVR 546 million to MVR 577 million. Imports from China held steady, while Singapore’s share fell from MVR 412 million to MVR 393 million.

Despite the rise in export volume and a reconfiguration in trade partners, customs revenue decreased from MVR 364 million in May 2024 to MVR 351 million in May 2025. Royalties also dropped by half, from MVR 16 million to MVR 8 million.

Vessel movement data for May 2025 showed increased port activity, with 104 vessels arriving and 146 departing. This marks an increase from 88 arrivals and 122 departures in May 2024. A total of 21,322 trade declarations were processed in May 2025, compared to 19,075 the previous year.

The shift in trade patterns highlights a growing reliance on food imports and modest growth in export capacity, particularly within the fisheries sector, even as overall customs collections trend downward.